Ann: Quarterly Activity Report and Appendix 4C - March 2025, page-4

This is gravely concerning.

- Customer receipts plummeting coupled with adverse backlog position
- Staff expenses still very inflated despite downsizing
- Insufficient cash to maintain next full 4 quarters
- Current cash burn unsustainable, let alone being able to accommodate large scale production if a contract is signed
- Contract asset neglible for meaningful conversion

In a recent podcast, CEO called out that a contract was about to be signed in "next few weeks". I believe this wouldve been a month ago.

Unfortunately, the sale of EM Solutions only avoided EOS entering into a Chapter 11, however there are grave cashflow issues at hand.

I worry that a contract announcement would follow closely with a CR at this point. Not looking good IMO.