People here are very bullish on this report... I am less so. I accept some of the positives re local defence industry and Australian domestic participation - ever since the release of the 2016 defence industry policy statement there has been a large push for Australian soveriegn industrial capability in defence. Notwithstanding, cash burn is out of control... 2.7 quarters of funding available having just done a capital raise? Not even a COVID revenue problem, as the quarterly revenue is only modestly down on the 31 December Quarter. Their bankers at Citigroup must be licking their lips at their next round of underwriting fees. EOS has done an equity raising every year since 2018, 2020 could get two!
Neil Carter is a great hire in the Cheif Strategy role, if only to get the capital structure sorted... Well respected and honest operator.. See how he goes with the poker player Chairman...
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