To be honest I am surprised it’s not down further. On 23 Jan they forecast revenue of $18-23m for FY17, less than 4 months later that’s turned into $11-14. Given they had $6.4 in the bag, the downgrade for 2H is from $11.6–16.6m to $4.6-7.6m. They have expenses at $20-22m and maybe a touch over $5m cash – they are in trouble without a large capital injection or lifeline from a t/o.
To be honest I am surprised it’s not down further. On 23 Jan...
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