Ann: Appendix 4D and Half-Yearly Report, page-5

That was quite an informative 4D, showing actual figures and directions of where the company is heading.

I think without any deals, the company will suffer a little more in the short term, but I think in the medium/long term, PSY will be a profitable company with the combined entities.

I guess when our piggy bank is on life support, we just got to prioritise what's more important and what's going to get us more cash in the quickest possible time - which is the spectrometer. LumiMEMS can take the back seat for the time being.

"Led by the CEO and Chief Research Officer, and supported by an independent agricultural industry expert, the Company undertook in-the-field demonstrations with many agricultural and agricultural technology companies during the half year."

So the demos are done, now we just have to wait for one of "many" companies to sign up. But it seems like the potential customers are seeking a more bespoke solution that is tailored to their business, which means it may require more time for product customisation.

While Hydrix continues to do its thing and brings home the bacon, we have just got to patiently wait for everything to settle and unfold.

"The Hydrix business is expected to generate profitable cash flows in the medium to long term once integration efforts are complete"

We have about $700k in the bank as of December, but we still have access to $1.5m + $1.35m loans, which would last us another year with the current expenses. Though I do think costs will be cut down once Hydrix is completely intergrated.

Assuming we only received 1 quarter of Hydrix's revenue in the half year of $1.4m, and we made a $1.3m loss for the half year. Hypothetically, if we doubled Hydrix's quarter earnings and minus our expenses/costs for the half, we should come out pretty even, if not profitable.

Ultimately, the main difference between <2017 PSY and 2018 PSY is Hydrix - a revenue earning business. For the first time ever, PSY has actual, reoccurring revenue hitting our bank, instead of us purely relying on grants and CRs to survive. Yes, we will still need to rely on loans in the short term, but once we've sorted out ourselves and possible spectrometer contracts, we should become cashflow positive.  

Not saying PSY is a sure thing, but I do think our future is looking brighter than ever before. Just got to be patient and wait it out.