They changed accounting methods this quarter. It has resulted in about $1M difference.
The $8.4M cash reported last quarter is actually $7.4M using same accounting methods as this quarter. It might be the $1.1M loan for the NDC temp. control system.
The NDC sale proceeds is confusing. Was $4.6M, then $4.8M banked was announced & now it is $4.3M in the 4C.
Cash burn was $261,712 this quarter but they paid off $297k loan otherwise would have been cashflow positive. Also spent $438k on property, plant & equipment.
Expenses are about $6M per quarter & GP margin is about 60%. Will break even at $10M per quarter revenue. As GMV trading fees increase contribution to GP the GP will increase a few percentage points each year.
At 5% market share = $1B GMV & 10M cases pa the GP will be 70% up from current 60%.
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