Ann: SFG Appendix 4D - 2024 Half-Year Report, page-2

This damn thing constantly runs at a loss - even without PSD construction costs they still run at a loss. SFG have 280m in accumulated losses in the balance sheet in this report.

It always been hard to get the real story in the cash statement, as the PSD costs seem to have been incorporated in some way to COGS, and knowing these guys they probably wouldn't mind reporting losses for the tax credits.

It's mind boggling how they continue to operate, but we'll soon see given they have $6m in cash and a burn rate now at $6m per half.