Ah yes, the old ASX legal requirements to inform the market,...

Ah yes, the old ASX legal requirements to inform the market, that old chestnut.
And I didn't call them fluff announcements, they are your words.
They released their quarterly on Friday 30th, then suddenly on Monday 2nd August, they had new deals to announce.
Must have been a busy weekend!!
Why not just announce them together? They could have easily done that on the Monday morning before open.
This is part of a Comms strategy, to suggest they couldn't combine those announcements is pretty naïve.

I'm not knocking the deals either, good progress, but my point is it's not enough given their current burn rate.
I'm focusing on how close they are to breaking even, which effectively means you are the one calling the cash flow statement a negative!!
Let's just look at the table below from the quarterly, they have spent $10m in the last year.
Last year, they received $946k in cash receipts.
The contracts are great, but they aren't making up much of the $9m shortfall are they.
So it's not really speculating is it, it's going to happen, just a matter of when.


As for smoke signals, we are not picking a new pope here!!
If the options get executed, that's helpful, albeit creates further dilution, but as I am pointing out, this is just continuing the dilution trend here.
And the smart money would be reading the cash flow statement and will need to see a lot larger deal flow here to get interested.

If the markets stay like this, they'll be fine.
But if the markets turn down and they have to raise while bleeding cash, that could be painful for the share price and existing holders.