Cash position is again US dollars, so it is actually ~AUS$55.16 million.
And this is the biggie - no debt!
So if they can stop bleed, with no debt to repay and a healthy cash balance - in the gen AI space - then rerate comes.
Last year - with Google - they lost US$12.4 million for the four months from Jan 23 - April 23.
So April this year - without Google - they lost US$1.3 milllion.
The right sizing of the business is working without Google, at the current market cap.
Broker rerates to come.
Above is not financial advice and my opinion only.
Ann: 2024 AGM - CEO Address & Presentation, page-33
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