I quickly looked at the cash position and was surprised they reported over $500k in cash.
When one looks closer much of that came from R&D tax refund ($364k) and SAIF ($42k), capital raising (about $300k) & RECEIPTS FROM CUSTOMERS OF $2K!!
At current cash burn this seems to give them a few more months on life support.
As told in the newsletter it is pleasing to see all the activity traveling & finding new partners and hosting visitors to the (non producing) Walkerman facility.
Till the next qtrly report.
Don't hold your breath!
Ann: Appendix 4C - quarterly , page-2
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