He is talking about the quarterly cash burn amount after excluding one-off costs.
$4.9M (Q1 cash outflow) - $1.1M (one-off costs) = $3.8M for the quarter.
Monthly cash burn average is $1.6M if one-off costs are not excluded (i.e. $4.9M / 3) or a 'normalised' $1.2M if they are excluded ($3.8M / 3).
The issue that @Samxinfan and others do not seem to want to acknowledge there are always 'one-off' costs. Point me to the last quarter in which there were none? There is a strong case to be made that one ought to consider these costs as normal for BUB simply based on track record.
As I've pointed out repeatedly, their pathway to profitability assumed no one-off costs, and this is unrealistic. One quarter in and I've already been proven correct on this point.
And in this current report, they were not transparent about what the one-off cost was. It could have been FDA regularly and consulting costs (they spent $5.6M on this last year) or litigation costs (they spent $2.7M on this last year). The other one off costs they had last year were for ERP implementation and capital raising, neither of which seem applicable in this quarter anyway.
BUB Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
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