LML only had $970k in cash at the end of December and are burning about $357 every 3 months. Probably only have about $500k cash at bank now. They could of course do a capital raising but so could SER. SER may be able to throw some obstacles in the way of a competitive bid by claiming reversionary rights to property (e.g land). However LML management couldn't be any worse than the old directors on VXL and maybe SER canget a jiont bid together with LML to salvage something.
VXL Price at posting:
11.5¢ Sentiment: Sell Disclosure: Held
