The 4C notes a cash receipt at item 2.5 of $18k which could be an initial deposit from Composite. It would be nice if it was more but no detail has been disclosed as the amount wasn't material.
"... the technical research and development phase of the Composite Technology agreement, relative to the agreement’s respective metal material validation, is nearing completion and moving to the next phase in Q3 CY 2020" Completion of this phase would result in a milestone payment I believe, hopefully in the current quarter.
"In parallel to the material and part test validation, the custom TKF Manufacturing System design and engineering has been completed by Titomic ahead of schedule." Another possible milestone payment to be received in the current quarter.
I guess we'll find out in a few months.
Ann: Quarterly Activities Report & Appendix 4C (Apr - Jun 2020), page-54
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