At least revenue went up. 10% chance of EMC making their 50mil revenue by end of year thus no kicker payment. That’s good and bad. R&D cash came in. Still no mention of any initial cash flows for Northam development milestones etc.
Hopefully a lot of staff can work on CETO and draw down on those grant facilities. Otherwise I can’t see another 10-15 mil coming from retail investors this year to operate like last year. They need to make cash or attract an insto. Given the projects all have term sheets they really should make some projection about cash inflows. All I see is grants and out flows. They haven’t advised that they are projecting cashflow problems to operate so I’d have to assume they are good for a while.
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