The update on their operations was minimal with no new content, so hard to read anything there.
The following is taken from page 3 of the report and spells out their cash position: The Company’s cash position at 31 December 2016 was $3.45 million. Expenditure for the half year was $3.66 million, which included approximately $0.29 million for one-off items, so annualised recurrent expenditure is running at the rate of $6.74 million. Since the end of the reporting period, $A2.49m of accrued revenue at that date has been received and the 2016 tax return has been lodged, which will result in an estimated receipt of $2.2m during the March 2017 quarter.
So as I read it, they started the calendar year with cash of $3.45m + $4.69m accrued = $8.14m
SoT
DYOR
PYC Price at posting:
3.6¢ Sentiment: None Disclosure: Held
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