Ann: Appendix 4C - quarterly, page-3

Doesn't look that bad to me.
- $192k of cash received, up from $126k last quarter.
- costs about $720k so about $520k loss for the quarter.
- $100k of option conversion further adding funds offsetting the balance drain a little.
- $2 million dollars still in the kitty.
- $650k estimated outflow next quarter.

So with nearly $2 million more in options(I think) to potentially come in, growing revenue and no cost blow out I don't see what all the big deal is. Obviously need to see IAM push towards break even point first and foremost.

Disclosure - I'm not fixated on milestones so my view may differ to other people about the urgency to scale so rapidly but with low costs outgoing and revenue growing it's not as dire as some think but each to their own.