$11.4M of cash at end September (roughly 2 quarters worth of cash left). $9.5M in debt at 12% interest... (and with warrants convertable at 15.3c, can't see that happening when the SP is trading around the same amount). I assume the idea when this deal was done was that PURE would convert and effectively raise cash for Comet at 15.3c, paying off the debt.
So they are in a net position of only $1.9M at end September, by year end it will be firmly negative.
If there's no corporate transaction or other pre-payments / funding by year end, I think we have a cap raise coming? I think that they can't leave it too late or the stock will be sold down as people start to know what is coming. Given their cash position, it's really a race against the clock to do a deal for COI - hopefully for holders it is a half decent one.
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