Ann: Recce Awarded AusIndustry Advanced Overseas (R&D) Finding, page-17

As you can see before this announcement Recce had $25 million cash on hand forecast to last 7+ quarters.

Now we cant add in the $17,000,000 as its a 43.5% return on investment. if you look at the last 4C, we spent $2,460,711 on R&D. So lets see how this would work if this grant was available last quarter:

43.5% of $2,460,711 = $1,070,409 So this would be the refund. Therefore total spent last quarter would be $3,311,852 - the refund of $1,070,409

adjusted quarterly cash burn would be $2,241,443.

Adjust above the "estimated quarters of funding available:

$25,687,906 / $2,241,443 = 11.46 quarters (3 years) vs 7.76 (2 years)

This grant has bought us an extra year.