Ann: Updated Appendix 4C, page-2

Some interesting claims here. For a start, while having $700K as one-off costs paints a better picture, a company with $122K in the bank as of March 31 that's burning "only" $762K per quarter rather than $1462K per quarter is still in trouble. That's about 2 weeks of cash.

Another odd idea: their Slik investment, for a whopping 1/15 of Slik, is worth "in excess of $USD1M". Slik's ARR is around $660K - $730K according to that report. How is a company with around $700K of ARR worth $15M? Conventional startup metrics are 1.5-2x revenue.