Ann: NNG Quarterly Activities Report and Appendix 4C Dec-23, page-11

You should read the financial statement properly. The opertaing business is almost $300K EBITDA positive each quarter. The R&D cash is on top off that. Even without the R&D the change from the $600k loss in Q2FY23 to $300K profit in Q2FY24 is almost a $1M turnaround and has made the business sustainable. The additional cash advance under the R&D scheme has also helped clear $1M in debt from the balance sheet in the past 12 months.

Disengenous would be hiding the R&D in the revenue line. It isnt. That you could see it says its nothing more or less than a fact.