There is no varnishing it
$246k for the Sept qtr Where is GPI $$$$ ???
$301 June qtr
$500 March qtr
BRN is actually downtrending in terms of income this year.
Staff costs $330k & Admin$623k = $953k for the qtr
R&D $609k Product Manuf $205k = $814k for the qtr
The above look reasonable to me bearing in mind the number of staff that are now employed by BRN, and the push to get the Akida chip done
So I am reasonably comfortable with BRNs' burn rate, and people talking about a CR are clearly way too premature, alarmist or have other ulterior motivations.
There is $9.995m in cash
Total burn rate of very close to $2m for the qtr
Something that I noticed was the $394k spend on "Advertising & Marketing"
So, obviously if you don't believe in the inherent possibilities in BRN, or you are totally unhappy with mngmt you should be selling. I am not at all happy with the SP, but it must be borne in mind that right now the price of BRN would not be as low as what it is, if not for the massive recent sell off of tech stocks on the Nasdaq - this is a fact that has clearly impacted BRNs' price in recent times, as well as the slow growth.
Having said that, it is also clear that we & the rest of the market would like to have seen more money come in the last qtr, I have been holding here for several years, and this result is a disappointment. I am not concerned with hockey sticks and candy bars; at this time I would be very happy with say 20% growth qtr on qtr. However like the current downturn on global markets, it is not the end of the world. But clearly though, LDN has some explaining to do, because he could not, and should not be happy with this result either, and it flies in the face of some recent prognostications of his.
So the webinar is tomorrow I believe, so am not sure if I can get involved but would hope that LDN is questioned in a clear concise way about SH concerns with the current downtrend in sales receipts. Further to that, I believe he should be putting forward a clear explanation of what/why/how we should expect the next qtrly to be so much better than this disappointment.
I think it is getting to the point where dribble about NDAs' is just that.........dribble, I understand that to sell they have to engage and let firms do their due diligence with BRNs' suite of products, but there has been a lot of hot air and little of substance delivered thus far. Managements inability to be able to deliver, clearly needs to be challenged at this point, this should be put to LDN & Co strongly by SHers'. I am glad that they still have $10m in the bank, because at the current pace of sales growth they are going to need every cent of it.
Due to the fact that I have had a pretty poor year with some other holdings I can't buy any more BRN at these knock down prices, if I had the money I would be diving in - no doubts here whatsoever. If BRN can get their product to market successfully we are sitting on a goldmine, that is still my thinking, but can the mngmt actually get this baby to fly ???
They should have questions to answer tomorrow
Expand
(20min delay)