Some thoughts after looking into this one a bit, following poor...

Some thoughts after looking into this one a bit, following poor SP performance -

The next 4c needs to be a "beauty" (cash receipt overflow from last quarter will be included ($273K) - ie Saying $1.1m revenue and disclosing $827K in the Sep18 4C), in terms of revenue, or the SP is going lower - my reasons - 

Revenues and Costs as per the 4C's -

Dec17 - $720K - Costs -$1,223 (after Govt Grant $216K)

Mar18 - $700K - Costs -$1,595

Jun18 - $877K - Costs - $1,392

Sep18 - $827K - Costs -$2,281 (yes I know the inventory increase - but now that has to turn into additional revenue)

Dec18 - $ ??? - Costs - $1,562 (includes forecast by SP3 - they should receive $416K Govt Grant Dec 18 - if not then costs forecast $2,026K)

Despite the growth in revenues being talked about, they are not rising quick enough - they had $2m at the start of the quarter - if they aren't close to CFP Dec18 - and forecast similiar (CFP) for Mar19 quarter - then cash will be getting low and impeding their operational options - Debt facility/CR comes into play.

This quarter will be there most crucial since floating. Needs to be a cracker with more to come ie. consistency. Info from SP3 on Oct/Nov revenues will dictate SP direction.

Hopefully they have good news to sprook about real soon as I think they desperately need some good news.

Cheers and AIMHO