Has anyone figured out the funding strategy? The way I see it most recent qtr cash flow -$1M = -$4M annually (unexplained why it worse than -$2.4M in prior qtrs). Cost savings (through board salary hiatus and top 2 Brace guys) of $1M + $0.4M to come + Excite $0.8M means they're still around -$2M annually. Prospectus says they have $1.194M of cash at the beg of August. If rights fully subscribed then pretty much all goes to pay for Excite. So have 6 months cash burn left post raising if fully subscribed. If not fully subscribed, well ....
Ann: Proposed Acquisition of Excite IT, page-17
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