I don't think the R&D concession is going to come in time to address the near term capital concerns. I can't reacall management letting the bank slip much below $1.5M & come end of this month it must be close ? Pfizer payment earned in previous quarter was paid in this period although i'd assume only a few hundred K which would probably pull the expenditure to $1M'ish - leaves $1.8M by EOM ?
"We are working with the R&D specialists at PwC to prepare our application for an R&D tax credit and we anticipate claiming a cash refund of up to $2 million for the 2012 financial year. We aim to submit our application to the ATO in the near future, potentially leading to receipt of a cash rebate before the end of this calendar year."
PYC Price at posting:
2.4¢ Sentiment: None Disclosure: Held
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