Not really... Previous revenues included the R&D grant of $1.6mio, so we should be comparing the March receipts from customers of $2,3777k minus $250k from the book sale to the December receipts from customers, which was $1,973k. Not so bad. What is really poor though is their explanation... They definitely need a new CFO! The cash burn when you move IP to costs is kind of stable, just over $2.1mio, comparable to same time last year though up QoQ over the recent numbers. The big one is the cash in the bank. As warned in other posts. The $3mio loan is really an emergency loan to give them another 1 or 2 quarters. Now... the $1.5mio April receipt, and the $4mio June quarter forecast are definite improvements.
SPX Price at posting:
0.5¢ Sentiment: Sell Disclosure: Held
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