Essentially it means that the companies current structure with administration, staffing costs ect each quarter will be covered by ongoing generated revenue generated by our up and coming projects. Obviously further aquisitions will chip into cash reserves but this will still be a major milestone and achievement
This is a fantastic outcome we knew was on the way but great for the company to put a clear timeline/path to reach this goal. The better than expected cost savings from the restructure is an added bonus. Would still hope they continue to look at these cost savings to help bring down recurring outgoing costs.
Also looks like the PV project has started to contribute with the $85,000 recieved in revenue and will start to see the accumulated loss start to come into play moving foward with any taxable income offset.
GB
RNE Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
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