Ann: Quarterly Activity and Cashflow Report, page-3

Wrong
$1.276 for 9 months. It's $650k for the last quarter. We dont really know much about this quarter's performance without understanding the revenue generated but not received. I wonder what their revenue not yet received looked like at end of quarter? I know the start was just $115k. That amount is likely to be for the final month of the Dec quarter's revenue . And with much stronger final month this quarter, I suspect the cash flow this quarter on a delayed actual receipt basis, is missing about $200-300k, but worth finding out that revenue receivables balance as at 31 March to be sure.

Stronger oil prices so far this current quarter are pointing to a higher gross profit on current run-rates.

Overall, without that cash timing issue, and with current oil prices, this suggests to me around a $900k-$1m gross profit per quarter business on current production rates, before corporate overheads. Not bad for a $2-3m EV business. Don't forget the loan out to that previous company, it's around $400k if I remember correctly. That should be coming up soon as well. But they need to tame those corporate costs especially on a conservative asset utilisation.