Ann: Quarterly Activities and Cashflow Report , page-2

Based on the Dec quarterly, cash will be down to ~$4mil by end of Mar qtr, ie cash backing per share of only 1.4cps.

The whole rights issue thing to fund Cornea/B-heart, with Artemis as the carrot, was a fizzer and cost Albers dearly.
He participated in the RI at 18cps, plus he funded around 50% of B/heart and Cornea through his various unlisted entities, then weather delays caused cost blowouts.
B/heart,dud.
Artemis, dud.
Cornea, technical success but needs a JV farminee with deep pockets.

MOG really need a farmout and confirmed drilling before the sp is going anywhere.