Appears to be some indifference to BLG's situation here........
By my calculations BLG had access to approx. $2m in funding as at 5th October, most of that generating additional interest charges. We are now a month+ on from that date, and are also now in 'mid November', as compared to 'early November' when the R&D funds were expected by the company.
Given their cash burn rate, and in the absence of confirmation of receipt of the R&D rebate from the ATO, alternative funding options may well need to be considered.
Clearly the ATO are scrutinising the increase R&D rebate and it's payment appears not to be as imminent as the company hoped. Given BLG's progress over the past 18 months, in particular, this is potentially an embarrassing situation to find themselves in.
Lets hope the rebate arrives early next week as it is not out of the realm of possibility that, given the circumstances, an urgent Cap Raise may have to be considered by the company.
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