Ann: Quarterly Activities and Cashflow Report-NXR.AX, page-7

Hey @The Stig

Not so much optimistic as just trying to think thru the Ann logically I guess. Though I will always try the half full method until it is in black and white as dead and buried as there is not much else possible atm whilst in suspension.

I'm just as much peed off and bored as the next holder with the delays and lack of info but I just don't see me venting being conducive to achieving much I suppose. I do agree with you that there needs to be something with a little more detail forthcoming re developments on the tech, potential commercial interest, ASX issues (if any), structure of the relist etc. rather than just broad statements.

Not sure how the advice re further refinements implies a lengthy term though? It could well do but it could also meet the Sept - Dec time frame?

I'm gonna hazard a guess (on what we have seen so far) that WBT figured they had something ready to go originally as per their internal tests but didn't understand or factor in the non conformance (for want of a better term) of data output from the Purdue testing.

This put a spanner in the works and now forced an engagement of an external party who appear to have made some inroads as per the statement in the Ann that images have now been captured and output data is able to be read in a format compatible with many commercial readers. That's a positive in itself I guess.

Now, it would seem prudent to me that even if you have something that is capable to a point (refer above) & that if something else comes up that you believe can be further refined and made better whilst you have a contracted team working on it already...why wouldn't you?

You would then trust that if those further enhancements are successful then when you do go to Purdue for testing you can at least be comfortable you have done everything you feel necessary to ensure the best possible outcome rather than go in half cocked again and run the risk of burying this entirely?

51% could be shaky as you say though the original agreements are still in play as far as I'm concerned as per previous Ann's. Unless of course this is all being reviewed behind the scenes as you state but any material changes will need to be Ann'd.

As for moving more swiftly, I don't think having more funds will necessarily move development quicker. Development of tech will be according to time lines of dev a section and then test and then review and then refine etc etc until reach overall objective. I assume that to work on one section of the algorithmic equation to achieve one outcome will no doubt have a ripple effect / impact to another section and so forth...I would assume is much like a jigsaw of getting various pieces to fit bit by bit.

On the funding front, the only unknown to me is what do WBT have in the kitty? We know NXR has some $ (prob enuf for another 2 - 4 qtrs I think) and if WBT have enuf funding to see this to finality by end of year then it isn't a drain on NXR for the time being.

From memory we have already funded the advances that can be converted to equity in WBT which should, I think automatically take us to the 51% (wood need to double check) otherwise WBT will need to either repay the outstanding debt or negotiate new terms maybe?

As for the relist and/or potential CR.....maybe there are some in the wings (Sophs / Commercial Ptrs) that are in discussions and happy to kick in if / when the time comes for a slice of NXR upon positive results? None of that would need disclosure at this time as could fall over if testing fails....but if it were successful then who knows who might be ready to stump up some cash to meet any ASX criteria at that time.

Anyway, have a good one and just my thoughts.