share price, page-193

Q:Whenever I see a start-up share price react badly to a change in CFO, I think it must be some issues or some concerns around cash, which is really usually what it’s about. Can we just focus a bit on your cash situation at the moment, because I mean one of the things that strikes me about your business is that it’s quite expensive to run. You’ve got a lot of staff, you’re burning $7.5 million, well you did in the March quarter and you’d made a raise in February. I think it only got you $15 million, so what’s your projections? What’s your sense of where you’re going with cash? Do you think you’re going to have to make another raise later this year?

A: Yeah, certainly we’re not in a position that we need to make a raise, which is great for the company and you’ll see if you look at the last three or four quarters, in fact the last continuing quarters, I think for about five quarters our cash burn is actually reducing significantly and very, very rapidly. Which is important from our perspective. We’re pretty much at the point where we can see a cash breakeven scenario, which is pretty extraordinary given in the last three and a half years we’ve grown over 200 per cent. In fact, 208 per cent year on year.