My reaction to the report was somewhat different. YES, the...

My reaction to the report was somewhat different.
YES, the applications for research grant money does seem to be their specialty. BUT, I also got the impression that they had been busy!
The Qtly report was a full and frank disclosure of where they're AT in their various areas of interest, which is what a qtly report is supposed to be, for better or for worse. What it's not supposed to be is an on-stage performance of pulling rabbits out of hats for the entertainment and delight of bored shareholders.

In case anyone hadn't noticed, the whole world seems to be going to hell in a hand-basket at present. Supply chains are failing, airlines are losing baggage all over the world and cancelling flights, costs of basic commodities, building materials, electricity, etc are all blowing out, industries are struggling to maintain services or even keep their doors open because of employees off work with covid, fit healthy young adults are mysteriously suddenly dropping dead all over the planet, media and government closing ranks to feed us with lies and propaganda every night, governments STILL shaking bags of money they haven't got out the window of the helicopter, with rampant inflation and interest rate rises inevitable, real estate market went over the precipice overnight, homeless people can't find rental accommodation and then can't afford the rent anyway, energy prices all over the world in turmoil because there's a war going on in eastern Europe, China simultaneously becoming evermore belligerent in our sector while simultaneously supplying military hardware to Russia, covid masks still mandated for a sedate ride on an almost-empty suburban bus, but not required for a capacity football stadium with 52,000 excited, screaming, exhaling fans ... etc. Who in their right mind would want to try to run a company... or a business... or even a household, under these conditions?

Meanwhile, the door with Honeywell is still open, SOR is still expanding and improving on its weed detection technology, is still engaged with the military research group, has developed an autonomous vehicle with autonomous drone launching capability, has attracted - yes, a "mate", but also - a VERY senior technically experienced and qualified CTO to advance one of their various research arms, significantly with marketing results he has to achieve in order to get paid, and a few other things. Given where this bloke has been in the past - so presumably the salary and incentive bonuses he could still attract elsewhere - HE obviously thinks there's some real potential in the cognition engines (whatever they might be) that have a real prospect of rewarding him more handsomely than any corporate position comparable to those he has held in the past. I can't do what he does, or think as he does, but I am happy to let my invested fortune ride on the coat-tails of what he presumably believes he will achieve - for all of us - within the next two years.

At their present rate of cashburn it seems SOR still have more than four years of cash in the bank, without factoring in any grants these grant-attracting specialists might secure in addition.

So, no rabbits-out-of-hats, nothing very exciting, no reason for the price to sky-rocket... at present... but also a conspicuous absence of disaster news in a world full of disaster almost everywhere else. For the time being I'm happy to go on accumulating more shares at the present price and as the money becomes available.