Ann: Quarterly Activities, Cash Flow and Investor Call, page-28

There has been little spoken here about the 4c. From where I'm sitting, it is an improvement on the last qtr for the following reasons:

1) Annual costs are coming down gradually with staff redundancies and junking some costly contracts.
2) The con note has been repaid
3) There were a number of mining contract wins delivered on albeit delayed by Covid
4) They have cleared out "onerous"contracts"although we dont know how many and what the sizes were
5) They found a way to generate more revenue from the mongrel MM at no cost to themselves
6) 2 new aged care facilities were installed and the same offering has been launched into mobile, rail and exploration camps
7) New CFO, New Non Exec

So, simply put, they were, to an extent, still clearing the decks. Given this is the last qtr of the year, if I were them, I'd be jamming all the bad stuff into the 2020 fy, to give 2021 a good runway, which is what seems to have happened.

The only bad stuff I can see in this qtr, is:
1) Annual costs are not falling as fast as I would have liked.
2) MM is still causing too many headaches and managerial time for my liking. (I hope they write this dog down and sell it on ASAP)
3) Sales have been disappointing but largely related to Covid, which is out of their control.

So long as they can produce a positive cash flow excluding one offs going forward (which hopefully have now all occurred) then all we need is a bit of luck with sales, and its suddenly a growth stock.