If they had included commentary with the 4C then they would have had to update the graphs to show that cash receipts were falling again and cash burn was increasing again.
It looks to me like they are hoping nobody notices that the narrative in the Investor Presentative of steadily increasing cash receipts and decreasing cash burn no longer applies. Especially while trying to do a SPP.
Also a worry that the cash receipts decreased in a period that they did bespoke development work for other companies. Does that mean sales of their own product were particularly bad?
If they had included commentary with the 4C then they would have...
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