Ann: Chairman's and CEO's AGM Address, page-7

TT knows he won't be around to deliver the FY17 AGM unless revenue turns. However, existing Board (including the very vested Chuck) collectively confirmed cash has runway until at least Q3 FY18, with every incremental $1 in revenue pushing it out further.

The Board came under under fire during formal part of AGM with each resolution being challenged by an ex-director. Not unexpected. It was clear they've learnt a lot and resolved to not to just wait on partners but rather open DELTA up to developers and system integrators.

The 5 main partnerships were discussed including progress made with each of them. There was an effective omission of past failures with some of these partners, via them being drawn down rabbit holes and chasing blue sky propositions. However, there was also confirmation that they're being more pragmatic and focused on revenue via an improved CVP particularly with CISCO.

So in the ST the UK Govt sector is going to either save TT or sink him. Today's market action would suggest he has convinced a few they are quite close to getting ink on the contract circa Feb-May 2017. Once 1 Govt department signs on, others to surely follow as secure file sharing is not a way street. Nothing is guaranteed as they have another competitor in the mix, but strong levels of risk and compliance is not a discretionary area for Govt departments.