I think you forgot that the first half year revenue includes almost a million dollars as R and D Tax deduction which Cellmid will not get in the second half. So even if you add the inventory value you will still end up with a loss of almost 1.3 million dollars.
The company has potential to be in the black and the answer indeed is staring at you in the same table. Administration and salaries (I do not know why the word salary has been omitted) amounts to $ 2.838 millions and total revenue from retail business is $3.659 millions, a whopping 77 percent of revenue. That is one area that the company could focus on as part of overall cost reduction. it can be done but requires commitment.
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