In round numbers my interpretation is from what they are telling me is -
-Q1 had revenue of $1.6M (now saying $2.9 for the half in this update) – so $1.3M for Q2 ??
-Outflow Q1 was around $2.7M, in this same 4C this outflow was estimated at $3.015M for next quarter
-Loss for Q1 was about 1.6M. Let me know if I’m off with what I’m extracting from the Q1 4C
-If revenue is 1.3 for Q2?? and cash flow was as planned at $3.015M we are looking at another loss of $1.6M? – the same as Q1 unless delayed projects reduced cash outflow
-Cash at hand was $0.7M in 4C
-The statement that confuses me is the total INCOME at $ 3.7M “unaudited first half revenue is lower than anticipated at $A2.9m. Total income for the period is expected to be A$3.7m.
-This income is possibly the $0.8M R&D rebate, or R&D and CR of 0.25M
-So with numbers above R&D, and cash at hand will be chewed up by loss for the quarter unless outflow has come down from $3.015M
- With two CR’s they are raising $0.5M, one yet to be completed.
-If $0.25M has now been received and is not included in “income” – this might be the new çash at hand’ in the half year results
-The next lot of $0.25M icomes in Q3
Picking 0.5m cash at hand during q3. which was 0.7M in Q2
Overall position doesn’t seem drastically worse to me than Q1, but I personally thought in Q2 we were expected to be closing the gap, but looks like we are plugging away and with out the improvement per quarter.
Any other interpretations? Time for some serious cost cutting, or oping outflows are better than planned, and forecast revenue/income for q3 is a lot better than 1.3-1.6M which has to improve to get from 2.9 to and annual contracted revenue of 8.5. Means H2 needs to be $5.5M
