At the end of Q1, March 31st, the company had $2.199 million in the bank.
The company expected expenditures to be around $3.086 million.
If we went with the conservative $60,000 a month that SensorTower claims (remembering their calculation is about as legitimate as mine), that's only $180,000 in the quarter. Whilst they have other apps making them money, I doubt AB1 would have taken the risk that they were unable to afford the $3.086 million in expenses. If CDH was performing badly, I imagine we would have seen a CR to get them through.
They have yet to receive the $750,000 from ICI and the Hong Kong grant is spread across 1 year of Dev and 2 years of upkeep, so it isn't a lump sum to save them. Therefore, it is probably reasonable to assume that they simply don't need the cash because the Crazy franchise is doing well.
I will be eagerly awaiting the Q2 report, as I am hoping for around $4 million in total revenues. However, even if it's less, I doubt it's "$60,000 a month for CDH" kind of less.
AB1 Price at posting:
4.6¢ Sentiment: Buy Disclosure: Held
