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