After approval, page-13

From memory, the previous capital raise was to bridge a shortfall in funds until they had received R&D funds ($1ml). I find it difficult to see how they can fund themselves thru 1st QTR next year with under $3ml in cash when they are bringing products into the commercialization phase.

Extract below from Qtr report shows an net cash outflow per Qtr of over $2ml and only $2.2m in cash and refund of $1,39 from R&D. Its looks to me like a fund raising will need to happen before December 2023 if they have no other sources of revenue.

Financial Overview
At 30 June 2023, Firebrick held cash and cash equivalents of $2.355 million, compared with
$3.44 million at the end of the March quarter. Net cash outflow from operations for the quarter
was $2.08 million, 66.8% ($1.39m) of which was for R&D expenditure associated with the two
clinical trials being undertaken by the Company. Almost all of the R&D expenditure will be
eligible for the RDTI (R&D tax incentive), which is expected to be received in the September
quarter. The June quarter operating expenses were approximately in line with operating
expenditures in the previous two quarters