Ann: Market Update, page-22

Possibly wrong thread, but can someone clearly explain why revenue has been significantly and constantly dropping? Is this because initial dam treatment costs and chemical usage are high, but ongoing maintenance of Phoslock is significantly low? Or is the pricing pressure in China that significant that margins are reducing heavily?

March 2019 - $10M
June 2019 - $8.6M
Sept 2019 - $4.6M
Dec 2019 - $4.8M
March 2020 - $2.3M

To get the $30-40M run rate the company needs to be back around the >$8M per quarter revenue... It needs this just to retain positive cash flow... Doesn't really fill me with enthusiasm - but would love to discuss the why?