To the $1,389,000 increase in cash and cash equivalents (from end Q2), I: - deduct $1,665,000 R&D rebate (one off) - add $623,000 Indonesian Close down (one off) - deduct $405,000 option exercise receipt (one off)
This gives a net cashburn of $58,000.
I consider the $758,000 Intellectual Property expense (these are SW development costs which should really be expensed), $94,000 Principal payment for leases and $16,000 gain on exchange to basically be normal business expenses (and while some will argue "capital in nature", its money that can't be used to pay dividends).
So "normalised cashburn" of $58,000 for the quarter. Not far off break-even, but not there yet.
RZI Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
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