Ann: DACS Grant Funding Contract for National Trial Signed, page-48

Let's not get too far ahead of ourselves. I'm all for being positive but if it's one thing the last month or two have taught me is that it's important to show balance. We've all been caught off guard with the pull back from 37-21c. Let's project 12 months.

Cash in bank at the end of last Q $4.6m
Options exercised $1.8m
Grant to come in over the next year $5m
Non grant revenues $0.8m (last Q $0.072m say an average of double that over 5 Q)
$12.2m in total

5 Q of expenditure at $1.65m = $8.2m

That leaves $4m to cover all the increased costs involved with the govt roll out, trials, commercialising the baby app, expanding in to Europe and Asia, opening new offices and probably increasing the size of staff not to mention increases in key personnel remuneration.

The obvious variables are non grant income which could rapidly increase.

It is far far too early to kiss the idea of further CRs away. But I would think highly unlikely in 2020.