poloker, you mentioned "The last SUAS contract for 2 drones was...

poloker,

you mentioned "The last SUAS contract for 2 drones was 7.7M back in June, Even if we supply half of the 74 SUAS , it's not going to be 1.2M of sale but more in the 100M range"

I had a bit research on the unit cost of a Rasp UAV system, the below link says RQ11 has a tag of $300,000 US ($400,000 AUD), I imagine RQ12 would be at around half million mark each. so bulk order of 78 units will be at around $40mil AUD plus training and maintenance income. I would guess a fixed price contract of around $50mil to be delivered between FY17 and FY 18

http://www.bga-aeroweb.com/Defense/RQ-11-Raven.html

XTE roughly made some $700k over $7mil ex GST contract, in between order and deliver time at the time, AUD has dropped significantly, I am not sure if currency factor has eaten some profit on that contract or not. But one would imagine they would at least make some $5mil over two financial year for the Land 129 and phase 4 project. that would be half of the current market cap.

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IMO, DoD project will be the make or break project.
in the last year annual report presentation, Chairman indicated report to be delivered end of April, and in the recent half year report, he seems to suggest data will be delivered before end of FY. Hopefully, Monday's CR will give more insight as to how it is travelling.

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underwritten CR vs Kentgrove $10mil funding

XTE seems definitely requiring funding now, the board is also very adamant the current MC is too low to give control to Fundies (i.e. if XTE place even half of the limit $5mil at current price, they would have to add Kentgrove members to the board etc.)
therefore, I imagine the board figures with all the good news around the corner, it is much better to raise fund from range of investors rather than one investor.

so I guess CR  3.75mil shares@40c to institutions to raise $1.5mil; and 1 for 5/6 right issue to raise another $1.5mil totalling $3mil.
I hope the deal will also include some kind of debt deal.

DYOR