That's a really good question.It really boils down to the share...

That's a really good question.

It really boils down to the share price and options holders...

The bulk of outstanding options (102m) are at 5c, expiring 30 June 2019.

42m went to the underwriter of the IPO, 60m by the directors split as follows: 5m Robert Newman, 30m Ian Olson, 5m Neville Bassett, 20m Graham Griffiths.

Obviously if the share price stays well above 5c it would make sense for them to exercise them. 102m @ 5c would provide $5.1m in cash which would (IMHO) comfortably see 3DP through to cashflow positive.

But if the price is at or below 5c we'll probably need a small raise, absent a sudden uptick in receipts.

With the current sales momentum it looks like we might avoid a cap raise...