OMG $17k in revenues, operating cash outflow for the qtr of...

OMG

$17k in revenues, operating cash outflow for the qtr of $2.6M, and a cash balance of $$2.9M.

As a finance guy i do not know how you can run a business without a secure financing facility.

Do they have a long term detailed plan, with a secure funding facility in place or are they just going to tap the market for new capital every few months.

This announcement has really spooked me this morning - its champagne taste on a water budget.

I wouldn't mind if all the cash outflow was R&D but thats only $116k of $2.6M in operating outflows. What the hell is going on - surely they know they needed to raise more capital at the last raise.

Im shaking my head in disbelief at this announcement.

Im not going into this stock until I see a clear plan for the future, no rash changes (i.e. entering AUS and immediately getting money) and a plan to secure funding for the long term.

This is looking like a bit of a joke.

Does anyone know much about the experience of the Directors???