You’re joking, right? The quarter ended 31 March 21. They had $1.8m cash on hand at the end of the quarter, PLUS the recent $2.5m raise (less costs), with a projected quarterly spend of $500k. They are very ‘on the ball’ with managing cashflow. Granted, I think staff costs are high, mainly due to excessive executive pay rates, but, time will tell if they’re worth it. Personally, I think they are, but I would still prefer to see some smaller wages (exec level) until they turn cash flow positive, for the sake of the company. I think I recall reading about Jason Waller being on $250k + benefits. For a company of this size, that’s ludicrous, IMO; half that is reasonable for a start-up CEO. That’s the only thorn I have in my side with regards to ICR.
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