I really admire anyone willing to put their research on-line like this and I'm a supporter of CDX. As you say, large upside potential.
Any reason that you didn't put in the cost side for the last quarters of FY22?
Their june quarter showed operating cash flow of negative $1.2M so guess at cash flow breakeven would be nice. They will get some option excercise cash to get them through for a bit longer - otherwise would need to raise cash soon based on the current burn rate. The trickle of, "Application for quotation of securities" should turn into a flood in November.
Was looking for their September 4C, is that overdue? Should be released by Oct 31, right?
(Will upgrade my sentiment if that looks OK but can't recommend a Buy when it's overdue.)
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