Ann: AR9 to Present at Henslow Defence and Security Conference, page-212

Rookie,
I think you are being over optomistic and perhaps I am being over pessimistic.
1. All major holders are holding. - of course they are, and some are buying to average down their losses
2. DL has aggressively reined-in expenses. - yes, to the point where if you spend nothing you do nothing, retrenced their marketing staff. It' s hould be easy to get to cash flow +ve if you spend nothing.

Heard all this 12 months ago and the 12 months before that.

The sp will bob up n down till next month's update - and then what? On news that they didn't achieve their goal(cash flow +ve) and no contracts I expect share price will fall lower. Then we will see the top 100 buying further to average down more losses.