Agreed, assuming they can keep the same sales trajectory through the year without increasing costs, indeed their guidance is a slight decrease in costs. Lets assume they can get by with no R&D and lower costs, but yet increasing sales. You are still looking at a new capital raise in Q4 '19, which would obviously be dilutive to the current share price.
Ann: Quarterly Activity Statement and App 4C Mar Q 19, page-8
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