Actually I think there is a probably a bit more going on.
capital raise is essentially to build more machines
(acknowledging also the cash burn issue)
machine components have a lead time
JV partners are planned to pay FBR for the machines in order to reach the next milestone of performance shares (by June 2020)
they need $10m in revenue in the next six months - sell at least four machines at $2.5m
JV partners would expect machines to be available for pilot project once JV agreements reached
company must have a high level of confidence in the
machine if they are doing these two things ie funding more machines and preparing for open slather public demos
This company is along way from being cash flow neutral from bricklaying - but they might only be 6-12months away from revenue from
machine sales.
This is a robotic company that lays bricks.
short term cash inputs will come from
machine sales, r and d rebates,
long term recurring revenues will be a slow burn as brick are laid and WAAS is uptaken
GLTAH
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