Ann: H1 FY2024 Results Announcement, page-11

So what do the accounts show:
- PBT loss
- EBITDA loss across all divisions
- operating cashflow negative
- borrowings of over 2m and cash of ~300k after taking into account overdrafts (of ~1.5m)

You know what the business did do to try and mitigate against all of the above.....they paid a dividend of 435k

You can make plenty of claims of sales orders received and certification with Telstra, but it seems the next announcement will have to be either a capital raise or a loan facility (against what business/performance/track record???).......they don't seem to be great capital allocators (illuminate is now EBITDA negative!!) and I'm just not sure that making grandiose statements about revenues in 3 yrs time and opex to achieve it can be credible given what has transpired over the last 2 yrs since the (disastrous IMO) sale of the logistics business