+ "Revenue and receipts from customers are still subject to the significant lag between when the company announces store expansion and product appearing on shelf. The company expects revenue recognition to normalise over the course of this financial year and remains confident that a breakeven position will be reached during FY18.
++ The cash burn for the quarter was in line with expectations and included one off effects of some of the patent family moving to national examination status in major markets and additional expenditure in marketing as the company began its support of the increased store presence in Australia. The closing cash balance was $1.7m."
+++ The key focus of the company over the 2018 financial year is to reach cash flow breakeven as soon as practical. The growth in store numbers, in particular over the last six months, provides the company with a strong base from which it can build a steady and strong growth in customer numbers. The strong interest in the company’s progress continues to open up opportunities for strategic relationships that will further assist the company to expand its footprint.
RNO Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
