IMHO
I understood that they expected a 40% reduction of the December 2023 Quarterly expenditure for Q1. And then a further 30% reduction on the Q1 cost for the follow on quarters.
Q4/23 Total relevant outgoings was $27.255M (8.3) below
The Don said that they had $31M at end of Q4/23. Post #:72961100 and (8.4) below
Say that the SPP raises 0, zilch, non.
Then they would have $31M + $15M -$1.4M(fee)
= $44.6M at the start of Q1/24.
How much liability do they have for golden parachutes, redundancies, leases payouts etc? Say $10M
Cash to Burn = $44.6M - $10M = $34.6M before insolvent. ??? Maybe less???
Cash @ Start Q2/24 = ( Cash to Burn) - (Q1/24 Outgoing)
= $34.6M - (0.6 x $27.255M)
= $18.247M
Number of quarters after Q1 = (Cash @ Start Q2/24)/ (Average expected Quarterly Outgoings)
= $18.247M/( $27.255M x 0.6 x 0.7)
= 1.6 Quarters after Q1
So they perhaps have enough cash for 2.6 quarters( Perhaps August 2024)
The SPP $5M might get them another 1/2 Quarter.
DYOR
LKE 2.0, page-1751
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