Cap raise won't happen until we are around 1-2 quarters from a zero bank balance.
Cash burn in the last quarter was $2.3m
Cash balance $14.9 million ($17.2 million at the end of the previous quarter)
Company has noted cash is solid until 2025 calendar year
There would only be a raise in the coming months if there is a big upswing and they wanted to capitalise on that for a clear objective. A November raise is possible as Dec-Feb capital raises are almost impossible due to the holiday period.
PER - Megathread, page-277
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