Ann: Appendix 4C and Quarterly Update, page-25

Just been doing a bit of a review of the cash position and my calculations show the following:

Cash and cash equivalents end of 1Q = $1.7 million (for the purposes of this number I ignore the loan facility which appears to be available only up to 30 June 2023 and is at an interest rate of 15% (Ouchhhhh)

Quarterly costs amount to approx $1.2 million if I ignore revenue from customers of $311k as i have no idea what this is for.

So cash and cash equivalents of $1.7 million versus costs for 2 quarters amounting to $2.4 million doesn't quite cut it

Expected cash inflow in the current quarter is approx $1.1 million being MND alloc: $150k, R&D refund $553k and cash from the new "R&R" oppies of $396k. As this future cashflow cant be included in the current calculation it has been ignored.

As such in order to meet ASX's 2 quarter cashflow technical requirements PAA:
1. Reduced its quarterly costs by the revenue from customers of $311k (albeit somewhat doubtful)) , and
2. Included funds from its 15% interest loan facility of $443k although the facility seems to have expired

Quite correctly PAA ignored:
1. the expected additional cashflows noted above of $1.1 million, and
2. the additional quarterly costs associated with an increase in marketing and promotion including current roadshow, additional costs of the new CEO, management hires, commencement of the OLE MND and canine phase 2 trials, and
.
My calculation suggests to me an injection of cash is imminent or should i say impending perhaps from a partnering or CR.

All here on hotcopper have their own strong opinions so interested to hear what people have to say and if my numbers and thoughts are out to lunch.

By the way it looks like PAA paid out Epichem's "overdraft" of $165k as a result of its liquidation