Sept 4C they had $1.65 mil left ($190K from options)
Dec quarter they had about $2.1 mil from options, and expected spend of around $550K
So right now IAM should be sitting on around $3.75 - 550K = $3.2 mil
That gives them time and options, and asks the question why were so many options converted? Surely thats a positive
If I was still holding, and as I try to do with any trade is ask the question what is my best approach now with the information I have, what do I do if a liquidity event presents itself before the next 4C, do I genuinely believe this business plan/strategy has long term commercial potential that is just taking longer than expected, is a re-rate north event like an acquisition something I want to wait for? or is the opportunity cost now too high considering the gains in others sectors. There are so many ways to approach this depending on the strategy you choose to take to protect you capital and align your cash with the lowest risk opportunities the market has to offer at this point in time.
Sept 4C receipts of $130K, spend $700K, so about $570K burn
M1 is NPAT of $1 million, so at present its still very far away
Receipts of $250K + would be nice for December, so some progress and with the cash they have the ability to build the business, maybe even ask for shareholder approval toward the end of 2018 for an extension on the milestones date, if they can show they are close to cashflow neutral.
But receipts under $150K, as things stand now I think the market will punish
Just my opinion, not investment advice
IAM Price at posting:
1.5¢ Sentiment: Sell Disclosure: Not Held
