'extending the run way to have sufficient time to be acquired or get in a partner.'
At current burn rate that $1m in savings is only about 1 month. If they think an extra month will make a difference then good luck to them. And of course if staff are being let go them there are costs involved so savings in the first year may be less than that. We will see in the next quarterly if there are savings and or costs involved.
My read is that announcing this 3 days before the CR close is one last desperate attempt to get a few more punters over the line.
The SP rating today says that may be a bad call.
OSL Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
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