Ann: Quarterly Activities Report - 31 Dec 2021, page-3

Can't complain at all with this result again.
Slowly but surely, SP3 continue to string together decent (not exceptional) quarters which make me question how the current valuation has undervalued the enterprise valuation (currently at ~$8m given there is $1m cash in hand).

Receipts for the quarter arent a huge drawcard, but Q2 has always been a pretty average one for SP3 . Receipts for the last few periods include FY22 $1.536M, FY21 $1.116M, FY20 $1.493M, FY19 $1.220M. So nothing remarkable on that front.

Main points for me for this report include the great December figures they detailed in the report, as well as the significant improvement to Net Cash used in OPEX during the quarter. This has gone from -681k to -263k and is on a good trajectory, particularly in the headwind of some average receipts for the quarter.

All in all, not a bad quarter, and still undervalued at todays prices. All imo