Ann: Quarterly Activities and Appendix 4C Cashflow Report, page-16

I feel like I have been transported back in time.

This is the second time NOR has used a one-off R&D payment to puff up the numbers.

As can be seen with anyone with a modicum of financial literacy, NOR's bank balance fell by $108k during the Q. They now only have a measly $71k.

It will be BYO Iced Vovo's for the AGM.

Back out the one-off Government Grants and NOR's Cash Flow from Operating Activities is -415k. This is hardly cash flow neutral as promoted by NOR previously. Another broken promise/missed target.

And like with previous Q's NOR is confident of landing deals. Yawn!

But once again NOR dangle the carrot whilst simultaneously putting their hand out for Performance Rights (18m) for PO and more oppies for the other hangers on aka the BoD.

10m of PO's Performance Rights are based on very low hanging fruit such as an MC under 20m (lol) and revenues of $400k, $800k... So basically repeat the disaster of the last financial year and get rewarded for it. Still the perma-bulls will talking up deals and looking for signs and hidden meanings.

One last thing, let's revisit my predictions:
1. Oppies to lapse; well out of the money; 100% correct. Who was saying, as late as this month, they would be exercised?
2. Sep Q will show negative cash flow on Operating Activities; back out the one-off R&D payment and this was correct.
3. A small CR prior to release of the Q because of 1 and 2 above coupled with the new cash flow. NOR announced a sneaky CR prior to the release of the Q via oppies replacement which will raise about $204k; in line with their previous small CR's.

Anyone else want to compare prediction accuracy? Doz?

https://hotcopper.com.au/posts/47869070/single

All imo.