Ann: Immuron achieves record monthly Travelan sales, page-26

The cash burn of close to $5m which includes 2.4 on projects and research (not explained in any detail which is a concern) cannot be sustained. Unless there is a significant sales increase we will be looking at a CR and I don’t think they could sell that to retail shareholders even at a discount as it will only depress the share price. It’s really now (or in next 12 months) or never or cut down on spending. Over $100k on entertainment is simply ridiculous in the current market and economy. Who are they entertaining as the US DoD would have strict rules around that? It’s the level of detail or lack thereof that I find concerning. In previous years they showed directors also being paid for services such as legal, research or marketing but I couldn’t find it this year.
I wonder if it’s rolled into Project and research - that should have more transparency but I guess we will be left pondering.