@dontran and @HoDog99 and @ Zman - that's brilliant.
Thanks very much for taking the time to respond, and in such great detail
I agree that these significant IP costs appear to be integration / product development costs.
And as long as they are getting a large % of them back from government grants, and as long as they are making PYG a provider of choice to our clients (so revenues continue to crank up quickly), then I have no issue with them spending so much on R & D.
Obviously they just need to continually manage the amount of spend on R & D - so that it doesn't use too much of the approximately $5.2m in cash that is now on the PYG balance sheet.
With cash receipts expected to rise sharply over the coming reports, I think PYG's cash position will only improve from here (from what is already a pretty healthy cash position).
Hopefully the SP will then follow!!
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