Of course I am aware of the bottom part of the report
8. Estimated cash available for future operating activities A$’000
8.1 Net cash used in operating activities (item 1.10) including refund
collected for clients.
(2,615)
8.2 Cash and cash equivalents at quarter end (item 4.6) 427
8.3 Unused finance facilities available at quarter end (item 7.5) -
8.4 Total available funding (item 8.2 + item 8.3) 427
8.5 Estimated quarters of funding available (item 8.4 divided by
item 8.1) 0.16
Note: if the entity has reported positive net operating cash flows in item 1.10, answer item 8.5 as “N/A”. Otherwise,
a figure for the estimated quarters of funding available must be included in item 8.5.
5
8.6 If item 8.5 is less than 2 quarters, please provide answers to the following questions
8.6.1 Does the entity expect that it will continue to have the current level of net operating
cash flows for the time being and, if not, why not?
Answer:
The company expects that the level of operating cash burn will continue to decrease in
coming quarters due to greater revenues from both increased client activity and new client
wins explained in the accompanying Quarterly Activity Report. The Company’s cash
balance will also be improved by the collection of accounts receivable from government tax
authorities combined with some further decrease in operating costs.
8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further
cash to fund its operations and, if so, what are those steps and how likely does it
believe that they will be successful?
Answer:
Yes:
(A) As of 30 September 2024, the Company expects to receive an additional $550
thousand of delayed funds from the equity placement undertaken earlier in the year.
The Company has collected $200 thousand of these outstanding funds since 30
September 2024 to the date of this report with the remainder due by 31st October.
(B) Commencing 1 October 2024 until the date of this report, the company collected
approximately $290 thousand of receipts from clients.
(C) The Company has a strong track record of raising funds to support the Company’s
growth and has commenced discussions with various parties to further support the
Company’s business as it grows to its cashflow break-even point.
8.6.3 Does the entity expect to be able to continue its operations and to meet its business
objectives and, if so, on what basis?
Answer:
Yes, please see 8.6.1 and 8.6.2 above
Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered
Do you think that any grade 10 work experience kid can do the job?
Amazon paid a lot more, went through the same period. All tech stocks have to get through this, high initially costs and staff costs as experts are needed and they aren't cheap. Have a look at SPX, the same story. Otherwise tell us the names of cheaper IT-gurus Amos could hire.
GLTA
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