Ann: Quarterly Cashflow Report - 31 March 2023, page-47

Gerard said a few times that he is not interested in a CR or any dilution at current SP levels and that there is no need for it.
If Q4 revenues turn out to be what is becoming pretty clear now then profit margins will be better, too. Also there was a lot of talk re R&D. Those R&D cost have been accounted for but the refund not. The latter will further improve the cash flow runway and after today, I am even more confident that there will be no issue for at least a year. And imagine if Reach start promoting this to the right people (UBS, DB, BJ, JPM etc.) and things are heading back above 6.6c (who knows, maybe one day, I wake up and have enough of the games and do it myself). I for one will convert my options and if everyone does, the cash inflow will be $2.7m stronger. If that happens, we will see 10c sooner than many punters might thinks. Lots of ifs but not impossible.
Anyway, no time and interest in convincing anyone. Despite holding more now, I will sleep a lot better after today's webinar. No need to visit HC every day. Will be back when it is time to discuss Q4 performance.