Ann: Quarterly Update and 4C, page-4

Wow! Super low EV

Risky to annualise revenue with young companies but if we did (and there's some track record from prior 12 months' trading) we're looking at ~$1.1m revenue. We're starting from a low base, so it will only take a couple of decent contracts to impact the cfs. If a decent portion of expenses represent inventory, as Inferno suggests, the next 3-6 months will hopefully start pushing that annualised figure up closer to $2m, which, for an $8-9m ev operation, isn't demanding at all.

Happy to give the benefit of the doubt that cash will catch-up to accruals next qtr.