I disagree with parts of your analysis but I gave it a thumbs up because it's something constructive that we can debate.
I think the Q has outlined that the R&D loan and the payment from the Avicena contract will see out the rest of the quarter. Though I do expect a CR too as advised by the company itself.
A lot of this Q was cut and pasted from previous Q's but in the past Norwood have stated that one of the Metaswitch/Oracle partnerships was starting to create benefits, given the lack of a signed agreement I'm not sure how this has happened.
From the AGM presentation we had 'One of these appears to be (finally) developing some tangible pipeline opportunities...' to 'the pace of interactions with one of these has picked up encouragingly over the past quarter.' That seems like a step backwards to me and makes the AGM preso quote a big overreach in describing the status of the partnership.
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