"The Directors have prepared detailed cash flow forecasts that consider a range of expenditurelevel commitments. Based on the research and development incentives of $1,280,925 receivedon 8 March 2024, the balance of the government grants of $2,381,667 yet to be drawn down,the ability to raise further equity and debt capital, further Research and Development TaxIncentives and the ability to reduce discretionary costs, the Directors consider the goingconcern basis of preparation to be appropriate."
In my doodlings yesterday I did not factor in that the company has $2.3m in grant money yet to use. So add in the $600k cash they likely still have and they are not as skint as I feared. Am still nonplussed about the arrangements with Comet but it does seem to be having a positive effect on the share price so what do I know.
IG6 Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
