The cash burn rate is correct, and yes, $519k of hat is R&D, so they are still spending big bucks on the development stage. (Still nothing allocated to marketing).
The rebate you mention is actually a claim they have in with the ATO at the moment which may see them get (in their estimation) approx $500k back as a rebate from the prior year's spending on R&D. A bit like claiming a rebate on your tax return based on prior year's income and expenses.
So the two aren't related. The spend will occur...the rebate may be granted. Even if granted, it is a one off payment and they would have to apply for similar grants again next year.
Sorry. A bit wordy. I hope that makes sense.
Milesy
PSY Price at posting:
7.9¢ Sentiment: None Disclosure: Not Held
