No cashburn is not decreasing.The last 4C commentary and graphs...

No cashburn is not decreasing.

The last 4C commentary and graphs suggesting burn decreased is misleading. They included a large $3.8m R&D rebate in those figures.

If you put that R&D refund to one side (as it won't be there the following Q) and rely on customer receipts from the underlying business then cashburn actually increased significantly from $6.2mil in Q4FY19 to approx $9mil.

Even if you took that $3.8m R&D rebate and spread it evenly across Q1FY20 and the three trailing Qs there was still a significant increase in underlying cashburn from Q4FY19 to Q1FY20.

I will be shocked if cash burn is anywhere near $5.3mil or lower in Q2FY20 - it will be higher.

Anyway, good luck with your investment - I have looked at LVT a number of times as aspects of the growth have interested me but I keep coming back to the same concerns every time.