The business may have shot itself in the foot a bit with its...

The business may have shot itself in the foot a bit with its focus on Net Debt last year. The subsequent radio silence on this measure is probably a bearish indicator given they indicated net debt of $1.1m as at Dec 31st 2017. Taking a really lazy analysis and just dividing out net cash flow from the HY, this should have ticked over last month ($~414k p/m). So it's been another soft quarter and/or their expenses are up further.