Actually, this potentially could be better than I thought... I knew they would not have the cash on the runway without the debt facility. Last quarterly they went through 784k which included a 161k grant form the Govt, so real burn was 945k.
They only had 1.145mil in the bank as of last quarter. They would not leave it to the last minute to get cash, so I am wondering if they potentially had like 300 or 400k left, meaning that cash burn from operation in real terms has decreased. Happy to wait and find out. But it is the next July quarterly that 1st needs to shine as it:
1. incoroporates a full 3 operational months
2. more revenue from online ads
3. generic growth across all facets of the business
4. further turnaround of the business
Patience is the key with this stock, but do understand those long term investors that are running out of it as well....
Ann: First drawdown of Standby convertible loan facility, page-3
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