Why do we do this to ourselves?, page-17

Btw, on "cash neutrality" (which I take to mean cash in = cash out)..

Going back to my very rough calcs for where I think the business might be at the moment, I would be expecting recurring revenue from June of approx $4m per month.. And I have May at around $3.5m..

Now since cash lags revenue (& outgoings) - ie. May revenue = June cash (as a very rough guide), then on a run rate basis (if we are cash neutral in June), then June outgoings should approx match May cash receipts.. And on a revenue (orders) basis we may have actually made a small profit in June (revenue booked vs cash out)..

But of course this is all very simplistic & we don't know on what basis the company has come up with this idea of cash neutrality, or what the lag is between revenue booked & cash received (or bulk chemicals bought & paid for)..

So take this all with a grain of salt please