Just over 3m cash on hand at end of December. Blown through 3m cash during the last quarter and 1/3 of the way through the current quarter at time of capital raising. YOW would probably have had at most 1.5m cash on hand and trying to gear up for a Walmart roll out.
Maybe people will cut management some slack now. They were absolutely over a barrel. No time for a rights issue or public offer and no way they could play hard ball with the instos. They needed cash and needed it now. Got it done, now time to move on.
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- Ann: December 2014 Quarterly Report and Appendix 4C
Ann: December 2014 Quarterly Report and Appendix 4C, page-16
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