Ann: Cynata Receives $1.88m R&D Tax Incentive Refund, page-2

Last month's cash outflow = $1.91M.

R+D rebate = $1.88M

So the Australian government basically gave Cynata a free quarter of operations.

Q1 CY2025 is going to be fascinating with

1. The release of DFU P1 clinical trial results.
2. Presentation of these results at the JP Morgan Biotech showcase and subsequent partnering meetings.
3. Update on the recruitment rate of the P2 GvHD trial to see if we are on track to complete by July 2025.
4. Potentially results for cohort 1 of the P1 renal transplantation clinical trial.

And all of this with the CYPOA 30c options expiring on April 1, so there is massive incentive for the company to get the share price above 30c to add another $5.4M to the bank.