Ann: Response to ASX Price Query, page-19

CR is very possible on the following basis:

Cash at 31/12 - 5mln. Negative cash flow of 1.8mln last quarter, which would last until some time in July if one wants to completely dry the bank account.

No significant turnaround in business as per company's own announcements.

More hopium but CAHG approvals are forecast to be issued in May as the earliest.

Business seems to have transitioned to payment terms rather than upfront payments, so any announced increase in revenue will not translate into cash immediately.

Now for the valuation:

47mln market cap at 28c is ludicrous for a loss making business (2mln past half year) with declining sales and no turnaround in sight.

I think it was either a short squeeze of a kind or a pump for credit raising. All will be revealed before the time the quarterly is due.