The 300k came from a board member and then another 1.3m was secured through a convertible instrument. Good news that there's cash in the bank, and a longer runway to get product out the door, but...take it with a pinch of salt. Debts get paid out before shareholders if things go south, so its low risk for the director and the more important point....it means that forecast cashflow is not covering costs. Still - an investment is for the next 6 months, not the last, so I'm still hopeful the quarterly will be strong. From memory, all ASX listed entities need to report by the end of Jan, so we shall see quite soon. This stock is easily worth a punt if you have a lazy couple of k kicking around.
FTZ Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
