mjp,It is not possible to mix cashflow and profit figures...

mjp,

It is not possible to mix cashflow and profit figures without knowing where the cashflow came from. Most of it probably came from the $10m received from China in August - seems they burned through half of that in the six months, plus any other cash inflow from the business.

Cash received YTD is trickier as they haven't announced source - could be payment for a consultancy project invoiced last year (i.e. new revenue) or could be another payment from China or, for all we know, could be (partially) forex related and the change in rate from 31 Dec to now (depending what currency they are keeping the cash in).

The non-abnormal loss looks to be about $3.8m - that is not exactly unexpected, since they were unlikely to have booked new Nexbis contract revenues. Clearly there's large volatility around so few contracts and such high (potential) margins... I label the margins "potential", as so far they haven't actually been paid in full for either Nexbis contract, so there is no confirmed proof as to what "normal" margins are yet.