'Estimated quarters of funding available (item 8.4 divided by item 8.1) - 2.5'
This is at the end of July 2022. Here we are nearing the end of September. So approx 1.5 QTRs worth of cash available now.
Not a pretty picture. They need to hurry up with a placement. September is nearly over, if placement not done now, what would the next quarterly look like? With under 1.5 quarters of funding left? And where would be SP be? I have posted my opinion before and state again that a placement should be the most urgent item on the agenda for the BOD.
The market got teased a month ago with Tenmile's PR exercise but nothing has come of it yet. Which is casting doubt on any potential negotiations around placement price or even whether to further invest etc.
Also re partnerships, no US company will take an ASX micro cap seriously with only 1.5QRs worth of funding left.
Yes there is a bit of R&D rebate to come as well as running revenue that is chewed up by expenses. For where they are at on the timeline EMD need a solid 8 figure placement IMO.
All the potential is there but the BOD is cutting it a bit too close to the bone here atm.
All IMO
EMD Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
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