I think that the revenue number is an impressive result
As someone pointed out the costs went up commensurately - why is there no evidence of operating leverage?? its not like the marketing budget went up, which would be a reasonable explanation, the costs increase came in item 1.2b product and operataing costs.
The company still burnt through $548k in the quarter and there is no sign of cash burn trend improving. This is the worst quarter of cash burn since Sept '18 and continues a trend of deteriorating operating cash outflow.
Its burnt 2x as much cash this quarter as it did almost a year ago. I don't find that encouraging given this company's balance sheet
I guess then I can understand why PEGG financing hasn't closed, nor can they even complete on the measly $1.5m raise at 1c
So no operating leverage, still undercapitalised burning money like crazy still - lucky its not trading
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