Material Uncertainty Related to Going ConcernWe draw attention...

Material Uncertainty Related to Going Concern

We draw attention to Note1 in the financial report, which indicates that the consolidated entity incurred a loss of $836,194 and had net cash outflows from operating activities of $1,294,897 for the half-year ended 31 December 2018. As stated in Note 1, these events or conditions, along with other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the consolidated entity's ability to continue as a going concern. Our conclusion is not modified in respect of this matter. 

Ouch

Revenue (inclusive of R&D grant and interest) increased by 21% to $1,051k from corresponding half-year period. In other words they are turning over $100k per month. 

Division forecasts are cash flow positive before corporate overheads and the Company is now well positioned to capitalise on growth opportunities.This is gold. We are profitable before our overheads. Just gold!

total Equity        $11128860
total intangibles $11095130

Tangible equity $33730

The cash burn rate is forecast to be approximately $100k per month for the next quarter. $600k left.