One also needs to remember that at the end of December 2013 IDC has just $492k left in the bank - they are currently running on "fumes".
They estimated $6.6million would be spent in the March quarter - they may have had to adjust their spending expectation.
However, if they have already spent $6.6mil out of the $10mil coming into the coffers immediately, that leaves them roughly $4mil heading into the next quarter. Their past quarterly spend has normally been around $5-7 mil per quarter
The additional $10.8mil "to be paid evenly over an 18 month period;" - is that going to see them thru? Not at the rate they are burning cash. There would need to be more!
IDC Price at posting:
6.8¢ Sentiment: None Disclosure: Not Held
