At this rate, they will burn through their cash in 2 quarters.
That gives them 1 quarter to arrange another CR.
Simple maths Operating Expenditure $2m a quarter.
Sales $245k a quarter
Cash at present $3.5m
This quarter only propped up by Govt Grants of just over $1m
Mark my words it will happen they will run out of money by June 23
So get on the CR bandwagon for a CR at a price of 2c a share to raise another 6 months of cash.
Rinse & Repeat.
Always keep an eye out on this train wreck
Ann: Quarterly Appendix 4C and Activities Report, page-3
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