First point - which you seem to be missing, the profit figures you allude to, are not being driven by recurring income, a 577 R&D grant is providing the income kick.
My point is, it's tenuous at best to suggest this company is generating profits on the strength of existing contracts, but rather via way of Govt grants and deferred tax assets.
You are right, I was going off the only available financials for this FY just passed, do you know why?
Numbers tell the truth.
I'm not going to engage in a "you might like to" pissing contest with you, but for the sake of acknowledgement, it's going to take a lot of contact wins to provide any meaningful earnings lift given the average contact price is between 60-80k.
With respect to capital requirements, you haven't acknowledged that I did not suggest another cap raise was imminent, merely that this is a company that will continually require capital injections, I'm thinking as frequently as 6 month installments, I offered reasoning for this - working cap paralysis, something you seem to want to brush by the wayside.
This isn't a small mining play that can rocket on the hint of discovery, this is a company with staff payments required month in month out - 75 staff of highly skilled professionals, no doubt attracting above market rates, directors fees, development costs and a clear and highlighted cashflow problem, in my opinion.
I would ask you to return to the ALA thread - and I would ask you to think on who first raised the alarm bells.
THink hard.
Expand
