Lexcorp is correct. The quote from the company that has caused such confusion was in the 4C on July 20th;
"As a result of improvements identified during the strategic review, the Company anticipates that the current cash balance of $8.8M, in association with the forecast R&D tax rebates, will provide the Company with operating capital for FY17 and enable multiple cost saving initiatives, launch of new products into the market which have not been forecast into the current revenue as well as maintain sales growth."
Many people took this to mean that no CR required, but no such statement was made. They were describing what they would use the remaining cash balance of $8.8M for... never said they wouldn't have a need for additional funds. I agree it was a bit misleading though!
AHZ Price at posting:
40.0¢ Sentiment: Hold Disclosure: Held
