Well, 3 months later & that would be around $1.1M gone already, leaving about $500K or less from the initial $1.5M at the end of December 2022. If the cash burn remained the same, by the end of April, there would probably be only $200K left in the bank. Massive cost cutting could have reduced the cash burn, but there could be another reason. Perhaps cash receipts have increased?
W2V still trades. So where is W2V getting the money from to keep the lights on? To pay the salaries. No CR, no trading halt, no placement, no financing ann, nothing. They'll call one on Monday now, you watch, just my luck as soon as I open my mouth.
But if there's still no news by the next quarterly ann at the end of April, it's possible cash receipts have increased again.
Below is from the last quarter, where W2V brought in $531K.
The longer this goes on, the odds would be that cash receipts would have increased again. Perhaps $750K to $1M? That would mean the cash burn would be well under $1M, so there should be a lot more COH. It would explain why W2V has traded so long without the need to raise cash. There's no guarantee the next quarter would increase again, it could fluctuate. The commissions would be affected by the VAT rate, currency fluctuations, demand for the service, GTV, delays from the government to give W2V the refunds it owes to its clients, so W2V can make its commission.
W2V still has access to the IIA for more grant money.
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