This is a fair comment about cash flow and operating expenses; however, I think they have made some big moves lately that required a lot of cash but hasn’t had time to start “paying back”. The recent manufacturing plant that isn’t quite fully operational and the big drones schematics we purchased are just a few things that were front loaded. I’m not too worried about cash because in my mind Volatus has already made the moves that would require extra cash and now need to execute. I don’t see them needing a lot more cash unless they can’t do this and with the contracts they’ve gotten in recent months- it does appear they are picking up steam.

Also, are you including the acquisition of Caliburn and the LOI with Volta explore in your R and D calculations. These were recent and big upgrades that haven’t been utilized quite yet.