"No, it will be some time out. There are other funds that will hopefully come in to the company in probably the next 4 to 6 months".
"We will obviously be coming out for additional funds at some stage, but the important thing here is that we will have then had a significant period of time to demonstrate that we can market and sell the Bluegen's into the selected countries, which is as I said the UK & Germany. It's a case of delivering now, and I'm confident that the team will be able to do that".
So they had $3.7 at end of March, add in this $7.6 and another $5 million coming from the R&D Tax credit, which gets them to $16.3 Million. So barring any further disasters that's got to be good for at least 9 months without another raising, probably a year if they can deliver on the Units proposed in the Alliander and iPower deals. Bob said he's confident, I hope he's right.
CFU Price at posting:
4.6¢ Sentiment: LT Buy Disclosure: Held