pretty simple in the end, end last quarter they had 7.5m in the bank, they burnt 5m during that quarter so I'm guessing they would be circa 3m by now. the scheme process is long and slow, they will be prevented from raising during the process and will need cash so they don't waste 6 months or more in the event it fails (if they can even cover their costs from existing reserves) and that's before defence costs legal and all the other rubbish that comes with this. at the same time if the major holders won't allow it to get the the requisite 75% of non SBM holders why would a board put themselves in that position......let the games begin
