Half year burn for this half will be between 1.3-2m. They prob had ~200k on hand when the raise came through if you break costs down evenly across the half.
Means they’re out of cash come the end of the financial year, and they could be a year or more away from break even. Only a suicidal ceo would let the cash run dry. Calling another raise in the second quarter of this year.
Ann: Operational Update, page-11
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