Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-11

Cash receipts for financial year will paint an ugly picture $5.5 - $6m tops. A considerable decline over the last two years.

If they repeat that FY25 I daresay curtains as a publicly listed company. There will certainly be private equity sitting in the background prepared to play a longer game than fickle markets.

In the scheme of investing this will play out over the REALLY short term. Next 2 - 3 quarters should be telling (I'm starting to sound like the preacher).

I still believe IO can turn this round, money will start to follow and the macro financial conditions may start to soften end of the CY