As at end of March Quarter
Cash on hand was $9.7million with a further $4.4 million due to be received from customers at Quarter end.
Taking that to $14.1 Million
We also have to add $5.1 million from option exercise of which the directors of EM1 exercised $857k
Taking that to a total of $19.2million in the bank excluding any Quarter expenses.
Now we have an additional 350k subscribers to add to this in which I believe there is no affiliate marketing attributable. (could be wrong though) These Subscribers are yearly $112 annual
350k x $112 = $39.2 Million - EM1 net take after costs 20% = $7.84 Million to add to the bank with more to come before Quarter end. (i haven't calculated any expenses however this should be minimal given my opinion of affiliate costs).
Significantly boosting our cash reserves.
Ann: MIGGSTER achieves milestone 500,000 subscribers, page-33
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