Kicks The first question that springs to mind is ‘are the future...

Kicks

The first question that springs to mind is ‘are the future spend indications on production each quarter net of R&D incentive provisions or not’. You are clearly tracking and recording everything and therefore better placed to assess. My recon was a one off exercise (marginally better than on the back of a cigarette box) and I have mentally used the outputs to provide order of magnitude estimates of future outcomes as we have received new data. Wild and wooly to start and always featuring a shade of grey.

Counter productive to do a fresh review until we get the latest 4c. Have a feeling the picture will still be grey.

Welcome yr analysis though.

Rokewa