"Notable operating cash flow items over the quarter included...

"Notable operating cash flow items over the quarter included research and development expenses of
$4.4 million, mostly attributable to one-off, non-recurring milestone-based payments. R&D costs are
expected to be significantly lower in the coming quarter. Payments to related parties over Q2 FY21
were $165,000, which included fees paid to directors and CEO’s cost of payroll over the quarter.
During January 2021 (post quarter end), a further $2,123,961 was received through the exercising of
options.

As at 27 January 2021, the number of outstanding not yet exercised listed options is
38,639,801. The exercise price of each listed option is $0.45"

(1) Above tells me that, R&D expenditure in the coming March 2021 quarter will be much less than the December 2020 quarter ;
(2) Proceeds from exercise of option post Dec 2020 $2.12m;
(3) * Further proceeds from listed options is expected to be $17.38m (38.639m x 45cents);
(4) Proceeds from unlisted options will be add more to (3) above
(5) Minimum cash inflow expected till 30 Jan 2022 = $19.5m [i.e. (2) + (3)]

Estimated quarters of funding available (as per item 8.5 in Appendix 4C): 4 quarters
In my opinion, this should, realistically, be about double i.e. 8 quarters, given (2), (3), (4) above, if earnings from signing up customers can start to support expenses of the company esp. payroll.

*assumes the share price is well above 45 cents.