Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-4

Much worse than expected. Based on the data released they have less than 6 weeks cash left.

They didn't cut expenditure last quarter as expected, burn rate still just under $1.1m per quarter. Thats $350k per month. Cash at the end of the quarter was only $679k, ie less than two months of cash left. But that was almost a month ago. They also indicated that costs are expected to stay the same. At this point the company has approx 5 weeks cash left ! R&D incentive usually comes about April. Not enough monet to make it till xmas let alone April. Hopefully they can get that money released 6 months early.