CIO 0.00% 1.8¢ connected io limited

Could need a CRThey have announced $1,020,000 in revenues for...

  1. 146 Posts.
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    Could need a CR
    They have announced $1,020,000 in revenues for June quarter and the 4C for March indicated expected cash outflows for this quarter of $819,000
    With the increase in sales costs of goods sold would also be up from the expectations otherwise they would have likely indicated in the announcement on July 3 cash flow positive position (unless they are saving this).
    Cash on hand @ March was $162,000
    Debt position also $1,351,000 extended to 30 June 2020 9% per annum interest charged

    Current loan they paid back was for only $120k a 60 day loan to cover working capital for this quarter.
    Could be a Capital raise on the horizon with the positive SP movements of late and consecutive announcements
    Last capital raise was September 2018 @$0.003 totalling $2.53m (133,187,333 shares were issued) the shortfall was underwritten by 708 Capital Pty Ltd getting 43,315,673‬ shares worth approx $130k

    Current shares on issue 1,813,085,059
    Directors have been taking pay cuts and payments in shares also
    Last edited by jap356: 08/07/19
 
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