This is exactly the type quarterly I have wanted to see. A big emphasis on cost reduction while revenue continues to grow; albeit at a slower rate, but we did have the Christmas holidays.
Average quarterly cash burn over FY16 was $2m (including $2.3m in Q4).
FY17 Q1 cash burn = $1.5m
FY17 Q2 cash burn = $0.9m
Interestingly, Q2 expenses were forecast to be $4.7m (in the Q1 report), and only turned out to be $3.4m. That is a fair difference.
With $6.3m still in the bank, I would think CVCheck now definitely looks the goods to hit break-even without another CR. Changing my sentiment to buy.
Ann: CVCheck Update and Appendix 4C, page-4
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