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9.2¢ advanced health intelligence ltd

Seems like they only got half of it. Rough seas ahead.

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simonjai

1,122 Posts.

178

06/11/23

10:32

Post #: 70743503
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Originally posted by Flognoggle: ↑

Just looking at this a bit more closely. As at the end of September, they had 0.07 quarters of cash remaining, at their current burn rate (which they say will continue). That's equivalent to about 6 days.

By the end of October, they had secured additional funding of $1.2m under the convertible loan facility they announced on 13 September. (That gave them $1.5m initially, with the capacity to raise up to $3.5m more, if they could find investors to take it up).

At their current burn rate, the extra $1.2m would only last for a bit longer than a month. ie. it's running out now. But, they are "finalising a private placement of AUD$2,200,000 with sophisticated investors, expected to be completed by no later than early November 2023."

Seems like they are struggling to get more money via the convertible loan facility. So if they can't complete the placement soon, they are gone....

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Seems like they only got half of it. Rough seas ahead.

AHI Price at posting: 10.0¢ Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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