So dodgy. Just right out of the Norwood playbook. Why would you invest with these skanky clowns!?
The reason, obviously, is because the new requirements suit them at this particular announcement. With $180k left and a spend of $800k/quarter the reality is they have 0.3 quarters of cash left. Which by the end of January has expired.
So at this time they are living on the R&D loan which they will be drawing down.
The bit (sorry, one bit) I don't understand is how they are allowed to use the total R&D amount as income and not the net amount. The majority of that grant was used to pay down the loan it secured.
Anyway, dying to see how the ramp crew think that no CR is necessary or will occur. CR prediction upped to 99% for this month. 1% for... Actually. 95% this month. 5% voluntary admin.
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