This is not looking good IMO. They have $2.6m cash and burnt $1.3m in the quarter. It appears they have a lifeline of $3m, but who knows in this market whether that will be there when it is needed.
Seems that unless they can reverse the cash flow and get some profit to the bottom line, shareholders will be handing the keys to private equity at or below current prices.
Ann: Appendix 4C - quarterly , page-2
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