Lower than I expected sales figure. Will run out cash in September or October unless they can sign a big contract.
Why do you think this? End of March had $1.9mill. Sales for June quarter $910K, cash burn rate has been around $1.5mill, so $600K down, leaves $1.3mill to end of June. Similar performance for September quarter would mean $700K in the kitty end of September. In July an announcement indicating a major alliance that is expected to quickly and significantly increase sales revenue. Cost cutting measures in place to flow from 2013. Reckon they should scrape through without a need for further cash. Seem to be on the cusp of becoming profitable to me.
CNN Price at posting:
0.4¢ Sentiment: None Disclosure: Held
