They have nowhere near 4 quarters of cash left.. Need to raise this quarter.
From the AR: "Under the terms of our Oaktree agreement the minimum unrestricted cash balance we need to
maintain is $35.0 million"
At the end of June they had a net Payables figure of around 13M
This quarter they wasted another 14 and had 53M left..
Remember: * Under the NovaQuest loan facility, an additional US$10.0 million from the loan will be drawn on marketing approval of
remestemcel-L -
So, no... they dont have access to an extra 10M; and given they need to keep a minimum of 35M in cash as well as current liabilities,... well... you can do the numbers.
Fes
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-86
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