Ann: Appendix 4C - quarterly , page-4

finch2

IMO they will probably need 1 more quarter's worth of capital until they become cashflow positive, based on WiseOwl's estimate of $3M p.a from Brazil commencing in Q3 of this year.

That being said, I don't see a raising occuring at anything under 3 - 4c. The fairest thing to do would be target the 4c price of the expired ALTO options.

Once they sign the Brazilian distribution agreement, should they confirm / estimate revenues anywhere close to $3M p.a the stock should be at least 5c IMO.

If that is the case, I don't think anyone would complain about a small raising to bridge the gap - I certainly wouldn't