Ann: RFX 1H19 Investor Presentation, page-9

Short investor call, my notes :
Manufacturing
* manufacturing is achieving 99% production yield, which seems pretty high.
* low staff turnover at the factory

Sales
* they are currently locked out of the various state incentives for batteries because of the guidelines being tailored to lithium installs and don’t provide non lithium criteria for qualifying. They are canvasing all relevent authorities to get some changes allowing them to participate.
* no forward sales guidance given for 2H at this point

Capital
* They are investigating all options for capital required and do expect to be negative cash flow for the next year. Not sure how negative and no doubt depends on cost reduction success and sales ramp up.

My take on all this is that they seem pretty confident the manufacturing side is well under control with relatively painless scaling to ~450/month.  The question no becomes one of sales growth and there are good green shoots but it will take a few successful trials like the daintree optus sale before volume starts.  On that the only question asked was the timeframe for the optus delivery. The answer was march-april as it has been delayed somewhat by weather events.