The company spent $302,000 during the quarter ending Dec 2023. I can't see this varying a great deal for the quarter ending March 2024.
At the end of Dec, Current Assets were $1,389,056, and Current Liabilities were $679,364 which includes general obligations such as rent.
We don't know what the 'trades' liability is, but it could well be for the new US CMO who were engaged (signed) late last year, in which case it's already been factored into the proposed use of funds shown in the capital raise Prospectus under Product Development US $1,500,000.
With the above various assumptions, they currently have $3,210,000.
$1,000,000 to be spent completing product development,
$2,210,000 remains.
This is to be used for IVDR/TGA applications ($1,000,000) and general running costs through to the end of 2024 ($1,200,000) as stated on page 4 of the Dec Quarterly).
(This doesn't include their upcoming R&D tax grant (approx $1,000,000) or any further shares sold in the capital raise over the next 3 months)
Highly unlikely they have an outstanding debt with Biotem. The French company would not have completed the work back in 2021/22, as they did, had their account not been paid in full.
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