Only 9 Units booked to revenue during the quarter.
Hence the urgency for further funding. Could not postpone it or rely on a Retail SPP under those circumstances.
Financial Review
March Quarter Cash Flows
Net operating cash outflow for the March quarter was AUD 6.6m (GBP 4.4m) which was approximately AUD
2.0m (GBP 1.3m) greater than the two previous quarters principally due to the delay in sales discussed above
and the resultant reduction in receipts from customers.
Net investing cash flows for the quarter was an inflow of AUD 2.0m (GBP 1.3m) arising from the release of
AUD 2.2m (GBP 1.5m) from a security deposit used to provide a bank guarantee in relation to grant received
from the NRW Government in Germany. The compliance with the grant requirements was concluded in
December 2012 and the bank guarantee was returned during the March quarter.
Cash on hand at 31 March was AUD 3.7m (GBP 2.4m).
march update
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