Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-6

some new names dropped, primarily SMEs. But no word about AMDnano, M&I Materials, TPR2 and GTM Action. They increased the revenue but again far away form those numbers named in the emerging growth research report published at the beginning of the year - seems not to be much worth....

Seems they are still lack delivering the minimum order quantities (e.g. ALT, Steel Blue), otherwise the revenue would be above 1m. In case of Sellafield we have yet to see that FGR wins the competition:

Three organisations who stepped up to that challenge – First Graphene, Nanoregmed and Qinetiq – have been awarded Game Changers feasibility funding to develop their potential solutions.

Challenge seeks safer glovebox gauntlets (gamechangers.technology)

At least they have enough cash in the bank to run the company for the next years to come, providing the ability to extend the production capacity as needed. Sadly at the cost of a consistent sell pressure on the share price as I expect SMI to continuously selling off its position as long as it is above their entry price (see Altech).

Questioning what the speculative outlook in case of concrete might be worth. Still waiting for a contract of relevance, pushing the company to the next level of development. Don't see FGR to reach break-even by this financial year, but maybe at the end of current calendar year.

Really disappointed that still none of those up to 100 companies at the GEIC has graduated to a customer. Hubron might become the first one, followed by companies in the concrete space but we have yet to see that.

Cheers