Management faces a dilemma. If they cut cash burn and forego...

Management faces a dilemma. If they cut cash burn and forego express expansion its an indictment of a startup's business model and the market will punish them accordingly. On the other hand, if current cash burn guidance of 2M AUD a month is maintained or increased, cash at hand would be gone by next year and 1PG will have to do another capital raise with onerous and dilutive terms. Cash at hand was 48M at the start of the year, this would probably be in the ~37M range now given the guidance provided, just enough to last until the end of next year. Management should start by taking large paycuts.

Net tangible asset backing was 31.58c at the start of this year, its more like 26c now. This is much lower than the current SP, leaving a buy at this levels very risky IMO, unless one has insider information as to actual cash revenue incoming or large contracts. I've tried catching falling knives before and been burnt. Yes it may bounce in coming trading days but bounces on heavily sold off stocks just arent sustainable until something fundamental changes. We have no such information as of yet. GLTA.