Sorry i need to correct myself. The reduction was of 320k a qtr from previous qtr which took it to 1.8m in expenses a qtr. on top of this there is the reduction of wages.
LNU’s most recent Appendix 4C forecast cash outflows for Financial period Q3 2020 of $1,878,000 or
$626,000 per month, a reduction of $107,000 per month from the prior quarter. In addition to these
long term reductions already incorporated into the company’s budget, the Company has now made a
series of new and immediate specific cost reductions extending its operational runway through
Financial period Q1 2021, including the Board and senior management taking significant pay cuts in
the short term ranging from 20% to 80% of total compensation.
So we have 3m in cash and i would say around 1.5m in expenses a qtr after wage reduction. So thats 2 full qtrs which takes us to beggining of October. If there is no new revenue then we will need to have a CR before end of september.
But my feeling is we will have a lot more revenue by september which will most likely allow us to go to end of year without any CR.
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