Ann: Appendix 4E, page-4

Loss is offset by cap raise and gov r and d rebate
also includes all other immaterial valuations like depreciation etc etc
cash flow the wAy to read and funds sources and applications
of course the co will rely as all other emerging biotechs explorers miners etc etc on equity to progress to positive cash flow and eventual in this case super profits!
expect accounting losses for a few more years
expect super revenue flows thereafter
expect non dilutionary gov or elsewhere sourced grants
try to research other bio evolutions like csl et al to get a grip on how to read the report
the 4E reads like a yellow brick road highway we are barrelling along at warp speed

fantastic progress
fantastic opportunity
fantastic rewards for shareholders coming