Will be out of cash by June next year at current burn rate.
... something will have to be put in place to get more cash by end of first quarter next year or it's the great cash slippery slide which has cornered and destroyed shareholder value for so many small Australian companies in the last few years.
A shareholder rights issue is unlikely to be successful unless there is some big positive news.
It is most likely that the longer they leave this situation unresolved the less likely they will get a good deal from a partner and shareholders will be squeezed dry.
C'mon board, get with one of those deals you have been telling us that is in the offing for the last 2 or 3 years!
BIT Price at posting:
9.7¢ Sentiment: Hold Disclosure: Held
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