Ann: December 2023 Quarterly Activity Report and Appendix 4C, page-10

what makes you say it only needs a small amount of cash? We’re burning $5m a quarter giving us 5 months of funds left.

Id say a small amount of funds to raise is going to be about $10m but they should only be asking that if they think they can be cash flow neutral within the next 6 months, and thats still going to require 25% dilution.

if they won’t be cash flow neutral in the next 12 months we probably need $15-20m at 50% dilution.

UBI has been my most promising holding for a long time, but there is a cliff approaching.