Struggling with these numbers. Revenue last year was $7.3...

Struggling with these numbers. Revenue last year was $7.3 million. Order book TARGET this year is stated at $10.5 to $15.8 million and a footnote says this is converted to revenue at 70% to 75%. What this means in terms of revenue this year is unclear, but possibly revenue could double this year at a guess. The key for the future is probably what the Origin deal produces in terms of ongoing revenue which is still unclear.

The sales order book was $10 million at the end of FY 18 and there were $2.2 million in new orders in the first quarter. However, I am confused as to whether the order book target of $10.5 million to $15.8 million is new orders or incorporates old orders as well. I assume probably hoped for new orders of which 25% do not convert to revenue.

There is $1 million in cash at the end of the quarter and an outflow this quarter expected of $2.6 million, not allowing for any revenue which was only $1 million in the first quarter. We might last another quarter if revenue is $2 million plus (new orders last quarter were $2.2 million) and a R and D rebate of unknown size is received (were $625000 in each of last years), but we will then need either more borrowing or a cash raise.

We need a clearer statement of expected revenue this year and the current (actual) order book. The current information provided is not clear enough.