Ok...this eve it is then
Sorry might b disjointed as on moby atm.
Tend to agree that susp looks like staying atm unfortunately but happy to b wrong.
But couple positive takeaways I liked (no, not cheese burgers Oz and Q...lol) was the testing statement and the R&D refund.
Not aware how much that will b but suspect a reasonable amount and essentially should provide some independent funding for WBT to finish this part of the job u would think without a cap in hand attitude that seems to have been the norm second half of last yr.
The other thing is the testing...from research I've done (a lot obviously) and reading what the below statement says I don't think it is a major rework.
It appears purely a software data output that Purdue can't read. That wood lend itself to possibly some rewrite of code etc to get the data output reqd.
They state the testing was "completed" which tells me that the hardware, software and analytics worked but the data for assessment (don't confuse that with the tech being able to actually perform the biometric check) wasn't in a readable format for Purdue.
They go on to state they will merely "reprocess" data from "previous" testing. That also tells me that it is code based and once that section is rewritten or added or woteva they need to do to get an output for Purdue then the next test should b quick. The database now already exists...just modify the software as per Purdue needs and hit the go button IMO. All still takes $ though hence y I like the R&D $ becoming available...that should help u wood think?
Anyway, my thoughts on read thru so far.
Have a good one all.
"In January 2016, Wavefront advised NXR that it had lodged its taxation return and an application for a cash refund under the Federal Government’s Research and Development (R&D) Tax Incentive Scheme (Scheme) in respect of the year ended 30 June 2015. Under the Scheme, companies are entitled to a cash refund of up to 45 cents per dollar spent on eligible R&D expenditure.
Funds received will assist Wavefront to carry out its technology development plans.
Purdue ICBR completed testing Wavefront’s system (comprising its hardware and testing and analysis software) and Wavefront advised NXR that Purdue ICBR was unable to independently validate and report on the Wavefront system performance metrics (such as False Acceptance Rate, False Rejection Rate and Equal Error Rate) without further in-depth analysis of the Wavefront software. Purdue ICBR noted Wavefront’s system software does not provide data output to calculate performance metrics in a format typically reviewed by Purdue ICBR.
Wavefront is currently examining alternatives to address the issues identified by Purdue ICBR and intends to re-process data from previous testing with a view to undertaking further independent validation at Purdue ICBR."
