Funds of $750k in on 2nd October, 2 months’ later bank balance is $350K. The presentation stated burn rate had been $120k per month since September. Surely that is a burn rate of $200k per month so where has the other $160k gone?
Anyone further funding will no doubt need to carry deep Board changes if it is to survive.
Funds of $750k in on 2nd October, 2 months’ later bank balance...
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