- Unaudited Revenue = $3.4Million LESS the Hologic "recognised...

- Unaudited Revenue = $3.4Million LESS the Hologic "recognised revenue" of $1.5Million makes actual revenue of $1.9Million. I don't agree with the recognizing of revenue accounting they are playing at, never did. The fact is the funds were received and in hand prior financial year. Just because you decide to in a generic sense, flick it between accounts to "recognise it" is irrelevant. The funds are already there.

- Product revenue up 200% over Q1 last year - I assume zero product revenue was received that quarter as they didn't indicate anything in that quarterly.

- Services revenue up 210% on the pcp. That comes down to the Hologic recognised revenue and not actual revenue. Their actual revenue of $1.9Million was a 72% increase for the pcp ($1.1Million). Mind you prior quarter (June 2023) was $3.4Million.

So the revenue side is fluffed up by the Hologic payments, simple as that. The product revenue did not meet anyone's expectations based on the commentary from the board during previous webinars.

Without the capital raise and the BARDA funding, they would have been screwed in 6 months.

I can assume then that cash on hand / incoming over the next 6 months will look something like this:

Current Cash: $5.7Million + CR funds $4.5Million =$10.2Million. (Look at the sly way they accounted for the CR funds. $6.9MillionAUD whilst cash on hand was in USD)
BARDA Funding: $2.8Million (its milestone funded, so who knows what that per milestone looks like)
Hologic Second Payments: $600,000 (can anyone clarify the cash receipts of $1.2Million in the above screenshot?
Product Revenue: $1.2Million (Using prior corresponding period sales (Current quarter plus next quarter))
Average services revenue: $1.9Million (excluding the recognised revenue).

Total cash position: $16.7Million
Cash Burn: $5.2Million (average quarterly burns of $2.6Million)
Remaining funds: $11.5Million ($8.5Million without BARDA funding/Increase costs for CLIA wavier trial.)


Anyone care to confirm and amend?