Ann: Change of Director's Interest Notice, page-11

My guess is that some people are suffering premature jubilation. While average operating cash flows have been around negative $500K each quarter (about $5 million from the IPO has gone over the last 2½ years i.e. 10 quarters @ -$500K per quarter), the March quarter is usually the best cash result each financial year. Combine that with the R&D refund that has already been announced at just over $500K and no more outlays on Oper8tor(?), then it's possible that there's positive cash from operations for the March quarter. But one quarter, like one swallow, does not make a summer ...