No matter how one views this it comes out the same, it doesn't matter how much dressing you put on a report a bad report still comes out bad.
End of June quarter they had expected funding to last 4.4 quarters, this didn't include the money $103k from directors nor the increase in loan facility of $141k but now the expected funding is only expected to last 2.1 quarters.
It appears they got very little for Epichem as income was only $311k, not sure the full make up of the expected $1.1m income is but $553k is R&D refund and possible the $370k from shareholders taking up the offer for oppies.
Of the $553k R&D refund they will need to repay at least $302k loan back
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