I think this Scheme of Acquisition may be premature.
The quarterlies activity report, released last night, showed a big improvement in cashflow. Cash burn was $1.45 million compared to $2.25 million in the previous quarter. My rough modelling estimates quarterly cashflow to keep reducing to -$1.15 million in Q3 23 -$0.85 million in Q4 -$0.55 million in Q1 24 -$0.25 million in Q2 24
I realise that IntelliHR only has $1.7 million cash left. However, they could potentially get through this with a small ($3 million capital raise). Also, the activities report ending in December 2021 had a $0.8 million R + D rebate. Will IntelliHR receive on this year?
My point is that things are looking up. I think that Humanforce sense a bargain from a very weak company. I now believe that a small capital raise would be the best option for IntelliHR.
IHR Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
