what counts, page-10

"When do you think SYR will have to cap raise again?"

No one seems to want to have a stab at answering, so here goes...I think it will be soon.

Cash at end of June quarter - $10.8 mil
SYR said they expected to spend in the Sept Qtr - $2.4 mil
Actual cash outflow was $4.8 mil - twice as much as expected
That left $6 mil in kitty at end of Sept

Estimated cash outflows for Dec quarter were quoted – $2.8 mil

If they stick to the expected $2.8 mil, and don't run over like last period, it means they will have approx. $3 mil left - that will last another Qtr.

At best, cap raise will have to be done early next year, but it's possible they may have to do earlier, before the end of 2013, if they go over budget.

One needs to look out for the "pump" prior to cap raising - happens with most companies.