apg ann...profits to commence...! , page-22

Hi Tez,

I noted that there was a lot of talk about the need to raise cash. $2 million in the bank is a good position I think given most of their cash burn last quarter was running the plant. As I understand it, it's shut down right now so cash burn should be way down, maybe under half a million a quarter (quick estimate from quarterly) without counting the plant upgrade. So it's the cost of the plant upgrade that will determine if they need another raising before June. I can't find the reference but I think $700,000 was mentioned as the cost to make the plant resiliant enough for 24/7 operation (someone jump in if they have a firm figure). This plus the money in the bank still puts them having enough cash until after June which is getting close to where they are expecting cashflow. So on the face of it the raising if it occurs may not be that large. Caveat is these are back of envelope calcs.

Cheers

Seik