the insto entitlement offer closed in early October raising $15 million. With those funds cleared, the cash balance was about $23 million in early October .
don´t forget: "A significant portion of the working capital raised under the Entitlement Offer is intended to be applied towards the settlement of existing accounts payable." (Retail Offer Booklet, page 17)
and
"...in light of the funds raised by the Institutional Entitlement Offer, the Company will have sufficient funds to adequately meet the Company’s current commitments and short-term working capital requirements. However, it is highly likely that further funding will be required to meet the medium to long-term working capital requirements of the Company. " (page 17/18)
AHQ Price at posting:
5.1¢ Sentiment: None Disclosure: Not Held
