2020 Italian Market, page-58

Based on FY19 theres approx $7.8m operational and admin costs ie $2m per quarter. $6.6m in cash at end of the year.

Any slow downs in business will quickly start to have an impact on cashflow. new business orders for Q1 and Q2 will be interesting. does not appear to be a big buffer of safety. any impacts on cash may impact on timing of the new venture. hopefully no cap raising in worst case scenario.

Hopefully the support at 19c/20c holds otherwise that will become near term resistance should this fall through. Best to be cautious in the near term.