Regarding the FR uniforms - I really wish they would specific the US Marines or the US Army when talking about progress and not use US Military as there are 2 separate areas, both at different stages of progress. I think that the comment below .... "however, we can clarify that the next step for this product development effort is to focus on addressing secondary specifications for fabric performance (fabric feel)." ... must relate to the US Army as we have already supplied samples to the US Marines under a RFQ and should be waiting to hear back about whether we are advancing to field trials - whereas development work as I understand was still occurring with the Army.
In regards to Total available funding - just note that the decrease in available funding from the last quarter was not so much about money being spent or drawn down from the Alterna facility but about a decrease in the available facility. The facility will move up and down based on how much inventory the company is holding and how much is in accounts receivable.
In June the facility was $1.307m with $195k drawn down In Sept the facility was $842k with $251k drawn down
So the company only drew down $56k of the facility over the quarter
That being said - it does show that the companies available financing can move down as well as up based on this facility. I'd be happier if they had a little more of their own cash available to cover this potential. Perhaps Colinton's can top up their loan to the company again if required - probably wouldn't need much either. And Colinton's have one of their investments up for sale which could bring in $350m, so $500k for Alexium might not hurt to much ... especially given Alexium progress on new initiatives too like cooling for shoes and cold packaging for medical supplies
Simon Moore’s private equity firm Colinton Partners has set the wheels in motion for what could be a $350 million exit at its cleaning services business Dimeo.
Next quarters prospects Oct-Dec .... tactical gear ...customers launching their Eclipsys®-based products in the coming months. .... commercial activity for DelCool™ is accelerating for top-of-bed and mattress level DelCool™ products .... Turkey, .... Orders were received during the reporting period and ongoing sales and shipments are underway.
AGM is in a little over 2 weeks - but wrong city for me - but this may provide updates that can't always go into ASX announcements and if anybody attends a chance to ask questions.
AJX Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
