Well, it was never going to be a great quarterly.
In Tough times, the stark reality of black and white figures on a page are always quite confronting.
Particularly when there is no steady income stream coming in.
Some costs coming down, in line with my expectation include-
- staff costs down
- admin and corporate costs nearly halved
- property, plant and equipment costs down 6x
- net cash used down
- government grants nearly doubled.
But we still don't have much cash, and what is left in the coffers is a worry.
It does rely on further money coming in through research claims/grants tax incentives.
I have not seen this listed in the quarterly before, and although probably not a huge sum, is great to see some cash coming in rather than going out....and some they can probably count on.
This next quarter then, will hopefully yield some fruit from their trip to the UK,
It sounds like they really are getting closer to securing interest and partners for the Belfast commercial plant.
It may even be LCM coughing up...
What I would love to see if further funding from Ford, and the APC, which is not out of the question.
As a matter of fact, its probably on the cards, hopefully with a UK government backed investment fund or guarantee to get this thing moving.
Keep the costs down.....get the funding.....survive......
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