Ann: Operations update, page-3

Ouch, ouch and double ouch.

The milestone payments were always unachievable IMO - Le Maitre had us by the balls and gave some face saving gestures to make it sound like a better deal than it was. Still, without it we would now be bankrupt - guess sometimes in life the only option is to bend over and think of England.

Was hoping the pay would stay down until a deal had been finalised. Cannot see how we will make it to the end of the year at our current cash burn. Preying this quarter went well on the cost and revenue side - either way, we will be cutting it close. Worst case scenario is to make another deal when we are desperate - I would prefer another CR to make suitors start treating us with respect (or at least buy us dinner first).