right again!

Well it looks like I am right again as my prediction of fund raising by end of October is still on track.

To confirm the financial situation based on the recent quarterly report:

Cash position at 30 June 2013 AUD 10.0m (GBP 6.0m)

Net operating cash outflow for the June quarter was AUD 1.1 (GBP 0.6m). This includes the receipt of AUD 5.2m (GBP 3.1m) in relation to a tax credit arising from the Company's Australian research and development activities undertaken in fiscal year 2012. If this amount was to be excluded then the net operating cash outflow for the quarter would have been AUD 6.2m (GBP 3.7m)


So they burnt the £3.1m tax refund £0.6m more in the last quarter.

Get your calculator out and you will see that at a burn rate of £3.7m per quarter, CFU has 4 months and 3 weeks cash left.