Nope - not true. Those figures I gave just relate to the operating cash flow, which doesn't include the cost of raising capital. I'm just purely looking at their day to day activity and excluding the noise from the capital raising (which is under financing activities).
In second quarter, receipts from customers were $373k, which was 5 times higher than the first quarter (which was $71k) and advertising costs were $63k in second quarter compared with $186k in the first quarter. Their share of operating costs (I assume rent etc) also went down in the second quarter. Staff costs were about the same, quarter on quarter.
Like I said, their cash revenue is going up, and their cash expenses are going down. It is a good sign.
FFC Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
