We believe that we have a unique opportunity in front of us. That’s right, and the purpose of those funds was exactly that, so investing in growth of the business. You had an SPP and you had a placement for $7.5 million and it ended up you got $17 million in the bank. On that basis, yes, however that said we are aggressively also investing in our growth so that means more product inventory, additional product development, product units for demos so on that basis the expenditure is higher.īecause you raised a whole lot of money recently, I think about $17 million in the end wasn’t it? In terms of what we released previously that I can talk about, we talked about our steady-state cash burn, so kind of the business as usual cash burn, of being sort of around that $600,000 to $700,000 a month mark and that includes our ongoing R&D because in the team of about 30 people in Sydney we’ve got about 25 engineers. Flightwise google earth download full#We’re going to be releasing our full quarterly this month and then we run December year-end so there’s going to be a full set of results that we release in February. Does that tip you over into cash positive territory? Because I note that your September quarter burn was $2 million. I note that you put an abbreviated quarterly for the December quarter waiting on your 4C still to come but you say in that thing you’ve got $2.4 million in cash during the quarter. Oleg, let’s start by talking about the cash situation. Potential for warfare to be conducted without humans Here is Oleg Vornik, the CEO of DroneShield. This mob, DroneShield, have got a way of detecting drones and making them stop so I think it’s an interesting business. The fact is, as we are starting to realise that drones are everywhere now, and in particular warfare is being conducted by drones unmanned whether it’s in the air, on the ground or on the sea, everything is going unmanned so you’ve got to be able to see them. It’s been a struggle for them and for the investors who backed them but maybe the time has come. They are certainly starting to sell some product. It’s been on the list for four years, it’s still burning cash although maybe it’s close to turning the corner, he wouldn’t tell me because the December quarterly is due out this month and he wouldn’t tell whether it was going to be cash positive but I think they might be cash positive. It got to 40 cents in 2019 and collapsed after that, and got as high 50 at one stage back in 2017. It’s 18 cents now, has had its ups and downs, of course. The share price has not really taken off. Oleg Vornik is the CEO of DroneShield which listed a few years ago and has been a bit of a struggle getting somewhere you’d have to say.
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