R&D rebate is not included in the $3.5m of cash receipts from customers as the ATO is not a customer. It is included in 2.1(e) - intellectual property as a net amount of the R&D rebate less the R&D spend for the quarter.
Also, the Limepay $200k cash on hand as at acquisition was included in the Sept 4C and is also not included in receipts from customers.
From my reading of the 4C and annualising the R&D rebate across the year, it appears that the operating deficit has reduced to circa $900k per 1/4 based on the December numbers. Therefore an increase in gross cash receipts of a further $2m per quarter should see the gap closed taking into account likely additional costs of that revenue (i.e. revenue split on payments to card schemes etc).
SPX Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
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