MAYI, so true that even if YPB could increase their sales 10...

MAYI, so true that even if YPB could increase their sales 10 fold, their track record says otherwise that they will be able to achieve that...

Watch out for the coming big CR, and the hit to their share price. The May 31, 2023 AGM passed a resolution to raise $4m by share issue, and the Half Yearly Report and Accounts just tabled mentions that a CR will take place before the end of 2023.

All the signs are there that YPB has pulled out all stops to make their 'books' look so much better:
1) their statement that revenue and income for the first 6 months of 2023 are 32% higher than the same period in 2022 when in fact $250k of it was due to a court settlement which had nothing to do with sales actions that took place in that 6 months period. There is also another income item of $46k where no explanation is offered as to why it has been 'booked' and if this and the $250k amount is excluded to compare apples with apples, it's $229k versus $362k from the previous years results or a -37% result, but then they couldn't admit to that, could they?
2) why is it now that YPB has booked an exchange gain from their overseas entities and interests of $611k, unless YPB was wanting to shore up its bottom line?
3) resolutions passed at the May 31, 2023 AGM which shifted employee monetary payments to share based performance rights to non-executive directors and Martin Ross, and employee incentive plan. These moves still have an impact on YPB's cash flow.

IMO, YPB's cash flow position is grim.
1). I suspect that the $600k that was to be the 2nd part of the March 2023 $2m CR won't be happening. This is because it was supposed to have been placed before the end of August 2023, unless the ASX agreed to a waive of this timing. It also makes sense that those professional and sophisticated investors are not going to pay 0.444c per share when the going share price is around 0.3c. It is worth noting that EverBlu who provided the 'lead manager services' for this CR did not have their "mandate" renewed early August, which to me suggests that there are problems completing the CR as committed.
2). Without JH's $500k top up, YPB would be out of cash by now, assuming they did pay NVISO the $250k (less the $50/100k they were supposed to pay under the original licence agreement). In statements made regarding the 2nd version of the licence agreement, YPB say 'they have paid NVISO $250k making a big dent in the $1.036m YPB had at the start of this September quarter.
3). Meanwhile the bills keep piling up. The $1m convertible note issue/loan is at at interest rate of 17.48% meaning over a year the interest charge on the loan is $174.8k. In their own words YPB projected that they would need to spend $140k on external consultants as part of the NVISO project. The convertible note issue has to be redeemed or renewed before the end of this month, and it will come at a cost. It shouldn't be forgotten that JH and his entities hold a charge over the assets of YPB and that would be scaring off investors knowing that they could lose it all should JH exercise his charge over the assets.
4). If the $229k sales revenue for the first half of 2023 is any guide as to what to expect for the last half of 2023, and that they are not getting the $600k from the 2nd tranche, they have to do a CR now.

IMO, YPB's declaration that they are on track to profitability is no more than their trying to pump up their share price ahead of this urgent need to do a big CR.