How do you know there's no money? Got the inside running, have...

How do you know there's no money? Got the inside running, have we?

There's little point in engaging with you, krusty, other than at a superficial level. All you seem to want to do is reinforce your doomsday confirmation bias. I sometimes wonder if you read the announcements, or just have a very short-term memory.


Quick Recap:

DEC Q burn was ($1.7M)

Cash @ 30 Dec was $634k.
Received 5Eyes orders $380k, Jan
Received additional unspecified orders $300k, Jan
Received additional EUDF orders, amount unspecified, Jan.
Received $1.7M R&D rebate, Jan.
Received $1.6M Placement proceeds, Jan.

Less R&D Loan repayment to Radium Capital ($1M)

Rounded Total: $3.6M

Having shed the Guilfoyle/Shields premium salary overhead, in addition to 24% headcount reduction, we can expect a significant decrease in burn, offset to the upside against further orders from 5EYES and other customers as forecast in the last update. Note also, 6 Month cash burn in Oct Q was $3.5M, so relatively steady at $1.7M/Q. Note also, R&D rebate is a one-off.

We certainly need increased sales momentum + increased SP before any further CR. If needed, will Radium be happy to take their clip on another R&D loan? Probably.

Why?

AVRLive™ Cloud pilot confirmed for customer testing in real-world operational environments.

• Full implementation of Nodestream™ Enterprise across Fugro Middle East.

Successful remote class survey using Harvest’s technology resulted in the relevant Class Register approving Nodestream™ technology as the only method of performing a full remote class survey for the customer’s vessels.

• Nodestream™ Integrated (NSI) devices shipped to Japanese drone manufacturer for trial with the Japanese Self-Defense Force (JSDF).

• Improvements carried out to robotic and software architecture for significant Five-Eyes defence customer.

• Phase 2 telemedicine trials successfully completed with European Union Defence Force customer (EUDF).

• New order from US defence contractor for Nodestream™ devices fitted to Uncrewed Surface Vehicle (USV) for operations along US coastline.

• Entry into agreements with two global defence suppliers for undertaking R&D activities for embedment of Nodestream™ software into their devices, supply Harvest’s complete NSI with their hardware, and jointly market at future global defence shows.

• Expansion of defence footprint with two new orders from significant Five-Eyes customer. Expected to be ongoing monthly order from February 2024 onwards, reflecting an estimated $170K AUD upfront per order.

• Receipt of order for rollout of telemedicine solutions to EUDF naval fleet.

• Addition of two new UK-based offshore services companies to Harvest’s growing customer list.

• Ocean Infinity makes order for $100k AUD for new round of systems for Armada fleet.

• Order from Technip FMC for conversion of existing systems to hybridised version of Nodestream™/ RiS™ software

Not pretending we're on the road to riches...yet. But there's enough above to suggest we are not on the road to Armageddon.

Just speculating. Could be wrong, often am.

Good luck.