cash position, page-3

Been a very quiet news stock since RTO was completed.
However, the recent SH update 2 March reveals they have been busy.
"Over the last five months, the following tasks have been diligently undertaken to ensure we have a solid foundation for business growth:
business systems implementation (including subscription management, product management, customer support, finance and administration)
business structures established (Australia, North America, India)
websites established for the Australian and North American markets and re branding of the corporate site
recruitment (Australia, North America, India), and
commercial hardware production run (product availability in January 2017).
In January 2017, we commenced sales in the Australian and US markets and have now secured more than 20 customers under 24 month contracts. In addition, we have 17 trials underway. The CCP platform managed more than 1.3 million data points in the past month, which demonstrates that we are a truly commercial IoT solution."

re Cash, the 28/2 H1 report
"After careful consideration and detailed analysis, the Board and management have agreed on a strategy to accelerate entry into the USA market. This decision was due to the size and scale of the USA market and the regulatory framework in which the cold chain industry operates in that market, the uncertainty of future exchange rate movements together with having secured the services of a highly competent and professional team. This acceleration of establishing a presence in the US will impact available cash resources. The Board is currently considering a range of options to facilitate the expansion."

NOTE 3 from H1 report,
"Importantly the consolidated entity is incurring a rate of expenditure designed to enhance its prospects of expanding into the USA market and hence generate sales. In the event that the consolidated entity encounters any difficulties in raising capital the board is comfortable that this expenditure can be scaled back to preserve cash."

Like any small cap on the road to being cashflow positive, it takes time, and along the journey cap raise / placements may be required. With a MC of $4.1M and Cash $1.5M (31/12), it's cheaper than many shell companies looking for a project.