Am very much a learner, so please feel free to confirm, deny or add to my findings.
I don't hold yet but am looking to.
At end of last quarter they only had $1.588m and needed $2.2m for expected current quarter outflow. So they cap raised $3m and currently have $4.588m.
So they are covered for this quarter with $2.38m to spare - enough for the quarter after not including any revenues.
If they lose the legal proceedings with Ikon and end up having to pay the $939k, then they are left with $1.44m - not enough for the next quarter, still not including any revenue. So revenue needs to be above $759k this quarter or there may be another CR.
Sales were down 14% to $882k last quarter. An unlikely repeat of this drop would still bring in revenues of $758k - a smidgen under but possibly just enough to stay over the line.
So from what I can gather, it really all hangs now in wether sales go up or down from the amount that is needed, and it's all a bit in limbo until something is released regarding the US launch and pre-sales starting from Nov 7, as this should be a pretty good indicator of future revenues.
As I said, I'm a learner - so please feel free to tell me what I'm missing.
Cheers.
CDY Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
