AR 9 - THE FUTURE PROSPECTS, page-34

The next quarterly will account for the Bank of Finland contract and probably most of the Defence contract announced end of June. They desperately need another contract. They had three quarters of funding at end of June and unless they can push that up above 5 quarters at the next quarterly I can't see how they can avoid a capital raise. The only positive of a capital raise is an accumulation opportunity however it also depends on how big the capital raise and dilutes our holdings. I still think there are further big opportunities in Defence however the Machinery of Government(MoG) moves very slowly. I hope they have a few other pots on the hotplate outside of Government. Keen to hear other people thoughts on whether you think we can avoid a CR.