I don't understand the market's response to the half yearly 4D, (although I know the market is down across the board more generally today which is likely also impacting).
I mean there's nothing new in there and maybe that is the problem? Do people really expect to see big announcements in the 4D? It's a reporting and compliance document for goodness sake.
However, the positives are:A positive report with little downside as far as I can see.
- first revenues
- substantial cash reserves of $72m (about 3 years spend at current rates)
- further revenue to be recognised albeit small ($293k)
- No debt
Ann: Appendix 4D and Interim Report, page-3
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