It's a tight rope, for sure. Iain and Andrew seemed to think the...

It's a tight rope, for sure. Iain and Andrew seemed to think the outlook for the next six months was very positive. I think he even said something along the lines of if we continue at this rate we will be cashflow positive in the not too distant future.

The staff expense cash burn is the most worrying aspect - simply can't sustain circa $2m a quarter on staff expense unless that take-up income is consistent and recognised quickly.

Re: raising funds, Iain did say that the reason some placement bids were not accepted were due to giving retail first opportunity to buy at this price (everyone that bid apparently received their allotment, just not all that they requested). So assuming they fall short, it sounds like they may be able to raise a bit more from sophs. However, it does beg the question at what price.

Andrew did talk about ratcheting up social media presence, however I have long maintained we need a more professional outfit to help with marketing - in some respects the US staff do this by directly targeting some of the market, but a more generalised marketing campaign may assist with Aus Gov grants and other sectors that may be interested - e.g. defence and Antarctic research etc. And just some more interest in the company stock. That said, now is not the time to talk marketing. All cash should be tied up in recurrent income growth.