Yes, going to make for a very, very, very interesting 12 months if not 6 months.
Cash on Hand
1/07/07 $48m
31/12/07 $33m
30/06/08 $18m
Average cash burn per half $15m.
Participating Hospitals US 23 + other 18 = 41 Hospitals all up.
Date issue, Feb 08, of half-year report (31/12/07) 203 implants done.
Date of investor update, July 08, for June 08 end 291 implants done.
Second half of financial year 88 implants performed.
Average monthly implant rate for the past 6 months 14.67.
We have 41 hospitals and less than half thereof are performing an implant a month. Is the market that immature/infantile or are there other competitive forces at work?
Looking at a CR something like 6 months from now base on the above figures. If they can ramp up monthly implants from now on plus other product sales (extra/replacement external components) this could be pushed out. The size of a CR will be interesting and I won’t be surprised if it ends up being underwritten. And the obvious opportunity to seek CR is when BTT trials are completed.
As for T/O would not be surprised if rulers are being run under it.
Another hurdle to cross!!!
PS I will be crossing the against box on freebies.
VCR Price at posting:
0.0¢ Sentiment: None Disclosure: Held
