Ann: Trading Halt, page-101

It's not just the PCEs being built, they are spending $5m on their expansion. They have $2.6m in the bank and that $2m facility with NAB is actually going to be reduced to $1m as per what Nan said recently - I think it was the ****** interview. The company also needs a buffer to protect themselves, I think the minimum amount that would be acceptable would be $2m to be kept as cash in the bank in case something goes wrong. So the company actually only have access to $1.6m. Now let's also factor in the costs of upgrading the 4 existing PCEs with heating and lighting which Nan mentioned in the last 4c, that's $520k. Now the company only have access to $1.08m and they need almost another $4m. Yes they can wait for the cash to come in but I'm willing to bet it would take a lot longer than the route they've chosen. They are operating cash flow positive but are not generating free cash flow yet.