AI overview of operating costs

I ran the last few quarterly and year end reports through ChatGPT o3 and here's the summary :

Underlying cost to operate: ignoring one-off R&D rebates, Sparc is spending ~A$0.8 – 0.9 million every quarter on day-to-day activities (average A$845 k across the four quarters).Income lines are lumpy:Receipts from customers were A$0 in all four quarters.Cash inflows come mainly from the annual R&D tax incentive (A$1.422 m in the Mar-24 quarter and A$1.116 m in the Dec-24 quarter).Interest adds only ~A$10-25 k each quarter.

Cash burn profile:In quarters without the rebate (Jun-24 & Sep-24) Sparc burned ~A$0.84-0.85 m.In rebate quarters it generated a modest net cash inflow. The Mar-24 refund more than covered costs, and the Dec-24 refund produced a +A$0.38 m surplus.

Latest position & runway:

Cash on hand at 31 Dec 24 was A$2.02 m. At an underlying burn of ~A$0.85 m per quarter, that equates to roughly 2–2½ quarters of funding before any new capital or the next rebate.Key take-awaysCost base is stable: Operating payments have stayed in a tight band (A$758-900 k) over the past year, with R&D the single biggest line followed by staff costs.

Cash-flow volatility is driven by timing of government incentives, not by revenue. When rebates land, the quarter swings positive; otherwise, the company consumes cash.Cash runway is short-to-medium term. Unless customer receipts begin or further capital is raised, Sparc will rely on the next R&D rebate (or similar grant) to extend runway past mid-2025.