Agree that it's not a flash looking quarterly, however a lot of the report looks like a copy paste of old report/points e.g. no mention of the DOE funds coming in, under section 8.6 of 4c. Taking that DOE $ into consideration, CFO still got approx. 3 quarters of funding at least.
Surprised to see that there are no updates on the DOE stuff or Innovaero either, a wasted opportunity in my view. Either management is treating the quarterly as an accounting tick box exercise or they don't want to trickle information, but rather wait till a proper update and release it as they see fit.
Whatever their intention is, I think this will be perceived by the market as a negative because I'm sure there are some expectations of DOE updates in the quarterly, considering it's been a month since they started the project. I won't be surprised if the share prices drops further because of the broader market jitters combined with this lack of communication.
Personally, I'm still holding and sticking to my original timeframe of 1-2 months to see what comes out of DOE and Innovaero, because any sniff of a positive news of DOE would push this up hard. For me, this upside reward far outweighs the downward risks taking into consideration that the project started on 1st Jan as planned, cash position, incoming $s from DOE, Innovaero possibilities etc. But, all IMO, please DYOR!
@Biotrader, you mentioned about an update in 45 days? Is this a guesstimate mate or did they mentioned anywhere in the old announcements, couldn't find any timeframes/milestones of DOE project, again highlighting communication could've been better.
