Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-20

Between the two of you, each of your posts display either a lack of understanding of the detail in the 4C or an intention to mislead in your comments...

@knowwhat - the R&D spend is recorded as a discrete line allocation based on the proportionate amount of staff costs incurred in the quarter with respect to claimable R&D activities. They haven't reduced R&D to keep the lights on as shown below. Given that SPX has been onboarding Carpet Court stores at pace, it is more likely that their technical teams have been diverted to onboarding Carpet Court for an income generating purpose as opposed to doing R&D work which is a cost centre.

@Warnie - Staff costs have not blown out from $749k to $1.2m in a quarter as there is a proportionate reduction in the R&D cost allocation and hence the staff costs are the same, it is merely the allocation of resources to R&D that has reduced and hence the greater allocation to non-R&D staff costs.

The total costs for R&D, staff costs & admin & corporate have in fact come down from $2.408m to $2.339m from the Dec 1/4 to the March 1/4.

Lets not let the truth stand in the way of a good story though