Ann: Trading Halt, page-4

Ok let me get this straight...

Last quarter they had $2,338,000 cash on hand (not including client cash or deposits on call).

Last quarter they had a cash burn rate of approximately $700,000 a quarter excluding movements in client cash. This was meant to be improving to the point of cash flow positive in the near term.

So at this rate they could have survived another 2 - 3 quarters before they needed to raise any more money assuming they never reached cash flow positive.

Why do they need to raise now? Just before they are profitable?

Just because some institutions want cheaper shares than they would have to buy on market...

Sigh!