Sorry Jacko but they are well short of that. Heres the actual breakdown and its a little worse than I thought.
On Feb 29th that responded to the ASX inquisition stating that they had $581k cash and $437k liabilities. So that really had about $145k to get them through March. Its now appears that $145k wasn't enough to get them through. This quarterly shows that at the end of march they only had $423k cash. Thats less than their liabilities as stated on Feb 29. They spend about $150k in March which is consistent with their previous run rate.
They raised $1.27m (before costs) in the CR. The costs were approx $140k so they really only raised $1.13m after costs.
After liabilities are taken into consideration and their $150k per month expenditure it appears that they should have about $950k net of liabilities at the end of this month (next week). Nothing close to $1.8m I'm afraid.
BIT Price at posting:
0.3¢ Sentiment: None Disclosure: Not Held
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