Ann: Quarterly Activity Report and Appendix 4C, page-8

Cash receipts would have been for sales in March, April and maybe May which were the worst months for manufacturing and retail in the US. Brilliant that they got nearly US$0.5mil from the government which will not need to be repaid.

I'm honestly glad they came out of this quarter with only a $170k reduction in cash. They are supplying Serta which has a large chunk of the US mattress market share, these sales may have been hibernated due to covid but retail is picking up in the US and AJX will benefit.

" While the initial response to the pandemic in March/April curtailed orders, we have since seen a notable recovery (...) we are encouraged by this trend."

"“Schedules for total mattress cooling systems (TMCS) and FR sock are tracking to plan;"

"Pine Belt was designated as an “essential business” by the US military thereby restricting access to their key facility, but this has since been resolved and production testing at their facility is now underway."