News: RFX Redflow posts net loss for year attributable to members of $12.9 mln, page-9

The figures that worry me:

$2,224,632 (Total sales - product and raw material)
less:
$4,476,637 (Raw materials and consumables used)
$6,173,646 (Payroll expenses)

Even if they have solved the parlous cash position in the report with a large injection from investors, it appears to me that they have a long way to go to be profitable.

On the figures above, they are not covering variable costs, let alone making any contribution to fixed costs.