TON,
My guess Friday's announcement was intentionally pumping for another capital raising just like GTG?
Net Cash outflow for the first Half year of 2015, $13.7m, normalized quarterly cash burn rate around $3.8m
Based on the December quarter report, net cash outflow for March quarter is only around $1.4m,
They had cash of $1.5m as at 31 December 2014.
Plus recently raised cash of $1m,
Current cash position would be around $1m. Probably only can last for 1 to 2 months.
The did have a $20m funding facility signed on 27/1/2015, but they didn't use the facility, but chose to raised $1m attaching with free options. Sound wired and familiar? GTG which had $24m equity facility, pumped sp and did $18m cap raising.
