Does look tight, based on the average cash burn last 12mnth...

Does look tight, based on the average cash burn last 12mnth (~A$4.9Mpa, or ~A$1.23M/q) they are tracking to only 2.5 quarters on cash remaining. However they have again clearly re-stated the expectation to be CF positive in Q1 25, which is only 2 short quarters away! It would be great if the company could negotiate a non-dilutive loan facility to cover the transition into profitability.

Just looking at the staff + admin costs there is no doubt that they are generating leverage, its just a matter of if that scalability occurs in time. Especially considering the June quarter has historically low receipts (only $900k and $1,300k respectively last 2 years)

The last raise was completed at 8c a share, so in the event of requiring a raise it will certainly be at a premium to the last. Since listing they have increase SOI by 73M, currently at ~204M SOI, last raise added 48M (24% dilution - large one and conducted at poor SP) shares across the placement and SPP, would be disappointing not to reach profit inflection point after such large recent dilution. Register is tightly held.

We'll see what happens from here, I'm happy to hold, and buy on any weakness.