What do you mean pretty awful? These results are historic to June 2005 before any significant impact from C3. Don't you understand this company? A lot of the losses are the residual oil investment and include £600,000 of non-cash depreciation and amortisation of previous development costs.
We are due at least £900k from C3 and the company expects much more. We have already received £300k most of which will therefore be in the next results for the interim period to December 2005 showing a very large turnover increase. 2006 should show a much bigger revenue and it could be surprisingly large given C3 alone, leaving aside RDP3 and Qstik.
Because of revenue, the company say any cash requirement should be limited, if any, so this is a very different animal to that shown by the results (and see my post below).
It is still looking good for big increased revenues in 2006 and running rate profits at some time in 2006.
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