Ann: Becoming a substantial holder, page-164

Should hear from the ASX by the 10th of July. Following that, we will get the next lot of quarterly figures on or around the 31st of July.

With $174,000 in the bank at the end of March, an additional $1.133m was added from the CR.

Assume a cash burn similar to last quarter of $899,000

So at the end of June we can reasonably (not completely, but come on, reasonably) assume $408,000 left. So NOR now should be running on approximately $410,000. Without a deal signed within the month of July, the company will need to perform another CR during August (based on historical averages and an approximate cash burn of $300k per month).

Capital Raises aren't always bad. But for a company to raise over $38m over 4 years and have revenue of $49k per quarter... It's dissapointing to say the least.


Speaking of Telcos... Anyone able to ask Paul how Vietnam Posts and Telecommunications Group is progressing? It's been 3 years, I hope Paul hasn't forgotten about them now that he has a deep, deep engagement with Oracle...