Ann: Quarterly Activities Update and Appendix 4C, page-2

"The Company expects effective annual overheads to reduce to between $10 million and $11 million per annum within the next 3-6 months. With top line revenue for FY19 (including tax incentives) 2 expected to approach or exceed $9 million, the Company believes it is well positioned to deliver growth in shareholder value."

So the company will still not be cash flow positive by the end of CY2019. They also will approach or exceed $9m revenue, but only including tax incentives, which are approx. $2m per year. So really, they expect to make $7m revenue from customers. And spend $11m. So a $4m loss CY2019, or a $2m loss if you include tax incentives as revenue. 

$31m Mcap may be generous just yet.