Ann: Quarterly Report and Appendix 4C, page-6

this is an expected result....150k aus this quarter in receipts. the last US navy contract was 150k US, which means Q1 2020 still has a small amount owing...money in the bank plus loan drawable of 200k equals break even Q1 2020....500k due q2 mean break even q2.... I don't understand the sell down.... some people very happy to buy at .3 and .4... I'm sure there will be a CR soon, hopefully not til after a contract.

big picture 35% reduction in spend, best quarter since change of direction. next quarter to be better... if directors sold down concerning... if not this is a buy