Ann: Investor Presentation - Quarterly Results, page-8

It's interesting if we go back 12 moinths and look at the 4C from last year and especially the posts, then compare to what people are posting now, Déjà vu!! Similar for April 2022.

It seems to me that they have finally realised that their total focus on Defence has not yielded the success they expected, so now branching out to try and diversity risk. The True Believers will say that was the plan all along.

For a while I thought that they may be able to pull off their high risk strategy but Defence is too fickle, as I have said before, you can be the golden haired boy one month and then the Night-Soil contractor next month.

That said, all the performance metrics are heading in the right direction albeit at a crawl, however the question of being cash flow positive at 30th Juine is on a knife edge. I think this report is a big yawn. If the sp breaks 8.9c, then I think we are headed for 8.3c, I don't think we will see 10c again until they land a BIG contract. I hope this new CFO can inject a spark into the company.