Ann: Zelda Successfully Completes Capital Raising, page-17

* As of 31/12/16 ZLD had approximately $3.8m in the bank.

* The company's December 2016 Quarterly Report highlighted that the total estimated cash outflows for the next quarter would be $913k. Note, this includes $247k for the outstanding liabilities incurred by ZLD prior to the completion of the acquisition of Zelda Therapeutics on the 18th November 2016.

* ZLD have just raised $6m, bringing their total cash in bank now to $8.3m.

So since the end of December the company has spent approximately $1.5m.

$3.8m (end Dec 2016) + $6.0m (CR 30/03/17) = $9.8m.

$9.8m - $8.3m = $1.5m cash outflows.

As of the 30/03/17 the company now have $8.3m in the bank.

Let's assume that the company's future quarterly outflows bump up to around the $1.5m mark, at that quarterly spend they would have enough money for approximately 5.5 quarters in order to execute their current clinical / research programs and to also pursue any new opportunities to grow its clinical pipeline.

Tony