What a basket case of a company. Half of the cash raised in the capital raise has been burnt. At that rate of burn there is one quarter of cash in the kitty. From the quarterly:
"We expect the rate of spending to remain similar for the next two quarters." In other words, that is saying they will be out of cash by the end of this year.
Get ready for another capital raising in the new year.
"The Company will start planning for the next capital raising in Q2 which is expected to be carried out in Q3."
I'm out of here at a 60% loss. This stock should make new lows IMHO. I'll keep an eye on news and see how the next capital raising goes early next year.
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-5
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