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Ann: Appendix 4C August 2021, page-4

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McKhenry

5,444 Posts.

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01/10/21

10:27

Post #: 56492215
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Originally posted by MikhailP: ↑

Can someone with rose tinted glasses explain the following to me?

In Item 8 we can see they have $2,157,000 in cash plus an additional unused finance facility of $3,000,000 (at 10% interest btw) for a total of $5,157,000 of useable proceeds.

For the Month they used $1,235,000 in cash.

Quick napkin maths suggests they then have 4.17 months of runway using last month cash burn.
I understand that if you use the last 2 months (with the large August numbers) you get around 6.89 months runway. In short seems like picking the lowest hurdle.

I hope for all that they have enough stock for the Christmas period taking into account logistic squeezes and conductor shortages.
If they don't it isn't looking overly pretty imo.

Expand

They have less than 2 quarters on current cash burn, you cannot survive on borrowed funds.

Pretty ugly numbers and wouldn't expect much of an improvement in September.

Would have hoped the restructuring costs would have ended in July.

BUD Price at posting: 1.9¢ Sentiment: Buy Disclosure: Held
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