Ann: Quarterly Activity Report and Appendix 4C, page-2

Pretty stock standard quarterly; still burning cash to the tune of $800k USD a quarter.

Revenue growth is modest, considering the design win increases. I think this just demonstrates the drone market is still in it's infancy. Unfortunately, it's probably going to be a pretty low year for shareholder growth IMO. Until there is mass adoption of drones I can't see huge quarterly revenue occurring. Obviously regulatory approvals are required to get to this point too.

Couple of really good points in the commentary though:

1. On top of the 78 design wins (11 more in the quarter), which is a good achievement, they are working towards a design win with one of the largest worldwide defence contractors.



2. Drone up continue to scale up, with a goal of 30m drone deliveries by the end of 2023 (compared to 4m end 2022).