Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-12

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Kyriaco

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24/10/23

15:32

Post #: 70509130
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Originally posted by Brett M H: ↑

Clearly this business is still going through way too much cash each quarter.

And they need to quickly reduce this cash burn through significantly increased revenues (from the upcoming NS2 & other sources) & cash receipts - plus a laser focus on keeping costs down.

However, if management are to be believed, they seem pretty confident that they will have enough cash for at least the near future - especially with the next approximately $1.6m R & D refund expected by 31 December 2023.

See below for part of the current 4C report:

If item 8.5 is less than 2 quarters, please provide answers to the following questions:

8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer: Net operating cash flows are expected to improve in the coming quarter as receipts from customers increase as a result of higher sales activity. The Company’s next R&D claim (with an estimated value of c.$1.6m) has been submitted.

Subject to the timing of processing and review by the Australian Tax Office, the Company expects to receive a cash refund before 31 December 2023.

8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer: The Company continues to closely monitor its cash position and the range of funding options available should additional capital be required. On the basis of its latest sales forecast and expected receipt of R&D claim proceeds in the next quarter, the Company remains confident it has adequate cash reserves.

8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: YES – the Company is confident based on its latest cash flow forecasts, current strategy (including new product launches planned), recent sales results and growing sales pipeline that it will continue to meet its business objectives and continue its operations.

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careful what the CEO says mate

refer below - they were confident they would raise $1m via the SPP

they got just over $100k

CEO also stated ARR was $4.1m late 2022

he later went on to say they haven't lost any customers

here we are 12 months down the track and ARR isn't even reported and revenues are well below what they should be if the statement made to the market was correct...
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