Ann: Appendix 4C - March 2018 Quarterly Report, page-26

I spent some time this evening analyzing PIQ and again the number just don't add up for us to go cash neutral.

Here is our OPEX so far this financial year:

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
1	SPENDING	Q3 CY172	Q4 CY172	Q1 CY18	Q2 CY18 *Guided
2	R&D	-$ 535,000	-$ 322,000	-$ 479,000	-$ 450,000
3	Product & Manufacturing	-$   32,000	-$   39,000	-$   67,000	-$ 45,000
4	Adv & Marketing	-$   52,000	-$   29,000	-$   19,000	-$ 50,000
5	Leased Assets	-$   65,000	$ 6,000	$ -	$ -
6	Staff Costs	-$ 142,000	-$ 121,000	-$ 131,000	-$ 140,000
7	Admin & Corp	-$   83,000	-$   25,000	-$ 161,000	-$ 110,000
8	Total	-$ 909,000	-$ 530,000	-$ 857,000	-$ 795,000	-$ 3,091,000

And here is our monies so far this financial year

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
1	MONIES IN	Q3 CY172	Q4 CY172	Q1 CY18	Q2 CY18 *Assumed
2	Receipts from customers	$ 237,000	$ 151,000	$ 206,000	$ 422,000
3	Interest Received	$ 2,000	$ 2,000	$ 19,000	$ 10,000
4	Government Grants & Tax Incentives	$ 919,000	$ -	$ -
5	Total	$ 1,158,000	$ 153,000	$ 225,000	$ 432,000	$  1,968,000

Adding in $166k from the DR PromarkerD annual royalties + additional $50k growth in sales would give us around $420k in receipts.
There is still a HUGE gap of $1.1M and that's including the $919k government grant we got in Q3 last year.

So....

1) There is a HUGE government grant coming this quarter in excess of $1M
2) A deal to license PromarkerD in another country is being discussed and BOD plan to close it this quarter
3) BOD smoking to much reefa.

Time will tell