I've been watching this stock for a while - I don't think...

I've been watching this stock for a while - I don't think anything much has changed in its fundamentals. Sure revenue was disappointing but it was never going to be so high as to realistically offset the ongoing cash burn this quarter as they finalise their facility for inspection. Much of their cash burn this quarter is likely to have gone into facility works, both major fixed assets and minor items and works ($1.2 million in assets in the quarter and $1.8 million is working capital). Assuming this work is now largely complete in preparation for the upcoming inspection in a couple of weeks then cash burn should reduce. Staffing costs are actually fairly modest in comparison to their capital investment which I see as a good sign.

Thinking about going in at these prices particularly given the the big milestones of inspection and certification coming up very soon.