Picking the Bottom, page-59

Hi @bernsta - medium term holder here. Definitely spooked over the last few months but apprecaite all of the opinions and views here helping to keep things in perspective.

I had been wondering why there has been no announcement regarding the R&D rebate that was highlighted in the last 4C as whilst expected/priced in, it would at least be a nice bit of news to help fill the void. Note: 2018's rebate was announced at the end of November.

Now reading today's investor pres, the rebate has been revised down from $7M (31 Oct 4C - "The Company is also expecting to receive approximately A$7m in R&D tax incentive in 4Q CY2019) to ~$6M (9 Dec Investor Pres pg 22 - "End Sep 2019 - excludes potential R&D tax concession receipt of ~$6m") and the wording changed from "expecting" to "potential". It would be great if the reasons for this could be explained as I thought the calculations for the R&D Rebate were somehwhat of a know quantity. Cheers.