Thanks Rick.Wills and Longstock for your comments on the cash position.
Without further info from the company I still find it hard to know which of the following is right:
1. Earn-out payments have been higher than provisioned for in the AR.
2. There was a requirement to use the $7.5m from the asset sale to extinguish related liabilities. This seems unlikely to me as the acquirer "should" have taken on these liabilities as part of the sale but I can't rule it out.
3. $8-10m cash burn over the quarter!
Sympathies to those holding while this one falls. Suspect the balance of risks leads one to want to see the Dec financials before dipping the toe in the water.
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