The gap between cash receipts and cash outflows has closed to about $659k per quarter.
The company should get an R&D refund of circa $1.4m in about Q2 FY25 (taking the R&D spend for full year of FY24 as shown in the report), which will extend the available cash as it recoups a portion of the annual staff costs.
Staff, admin & corporate costs reduced by circa $348k compared to March quarterly.
Expect to hit 3rd Capricorn DSD milestone in September quarter which triggers final development payment.
Expect to commence commercial roll out of Capricorn DSD in September quarter which triggers $100k/month in licensing fees (I've set my own expectation that SPX will only get 1 month of licensing fees in the September quarter).
SPX Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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