I look at it from the Total Contract Value perspective, always...

I look at it from the Total Contract Value perspective, always seems easier for me.

Outstanding TCV $5.96m at end of Q4, let's assume no contract wins/losses in the next 12 months, they'll get $5.96m in revenue give or take.

Q4 receipt from customer of $779k is quite close to Q4 revenue from delivered services of $740k, so I dont think they have receivables issues.

Now, they burned $2.8m from operations in Q4, $8.7m full FY21. Let's assume the worst and annualise Q4 number, annual cash burn would be $11.2m.

SOV has $13.5m in cash as at EOFY. Contracted rev $5.96m, cash burn $11.2m. Add another $3m to $5m for PPE purchases. They can survive for another 12 months without the need of raising capital at the current TCV. If they can bump TCV to $10m, that'll give market much more confidence.