"Cellmid closed the fourth quarter of FY2016 with a cash balance of over $2.67 million, reporting solid cash receipts from customers of $1.47 million, up 270% compared with the same period last year ($545K in 4Q2015). Net operating cash outgoings have been reduced to $232K during the quarter, down from $1.29 million in the previous quarter.
Advangen Japan, Cellmid’s wholly owned subsidiary, was cash flow positive during the quarter and is expected to report an operational profit for the FY2016 financial year."
My take:
Let the numbers do the talking. The sails have caught some wind it seems. If we are now tracking $6m revenue p.a at the very least ($1.5m per quarter) the company is on the verge of overall profitability. Lets wait and see what the US can do for Advangen sales.
On cx-Bladder royalties, the current receipt of $94k for 6 months represents user programs. The KP user program looks like ot will translate to clear market sales in 2016 and with Edison research suggesting a 100% invrease each year. That would equate to maybe $400K of royalties during 2017.
