Ann: Proposed issue of Securities - PIL, page-7

Hi RT, yes funds are required and they will either come from revenue from operations or a capital raise.
The $2M from the prospectus is already allocated so no money in the bank from this. We spent $401k last quarter and have $352k in the bank leaving less than 1 quarter of funding under the current quarterly spending and revenue trend.
That being said my expectation is that only salaries (too high imo) and office operational costs will come from the bank Acc as the $2M deal should cover all short term foreseeable business operational costs. If this were not the case then I would not expect the ASX to allow reinstatement of PIL as it would have concerns over the businesses capacity to operate as a going concern. On the assumption of this situation there would be $150k in salaries and say $20k of other expenses per quarter giving us 2 quarters of funding without the inclusion of receipts from sales which this quarter was $500k. I think we will be ok and no need for a capital raise in the near future assuming we continue to sell products.