Company had Cash of ~11.5m at Dec, raised 20m thru the SPP, and then the above announcement indicated 1.5m in receipts & 3.1m is outflows.....I can't then make sense of why they only have 24m in cash at the end of March.
Also if I look at 1st half results, they had operating expenses of 9.3m for 6 months, but are indicating 10.5m of expenses in the June2018 quarter alone - even if you back out ~AUD1m per month to N3, that's 7.5m in the quarter which is a huge uptick from the first half (& I thought N3 would do the heavy lifting on marketing given they are paying them US0.8m per month for all inclusive service).
Like the growth, but the cash burn seems unsustainable - I don't even think they can make Dec at the current rate of spending
LVT Price at posting:
42.0¢ Sentiment: Hold Disclosure: Held
