If I'm reading the last quarterly correctly, then they had $2.1 million in funds as at 30 June, with estimated spend of $1.5 million for the following quarter, to the end of September. Which means they probably have less than $600k at the moment. This means a capital raising is probably imminent this quarter. At the current share price, it will be interesting to see what the capital raising price is going to be, though I'd expect somewhere between 4 and 5 cents at the moment. And they also have 72 million shares currently in escrow, which will be released to market sometime, which will dilute the current shares on market by about 60%, because they only have about 56 million trading shares at the moment. They need a pump, then a trading halt, to raise at a higher price. Otherwise we might be looking at a 60 million share raising at about 4.5 cents for funds of $2.7 million minus the cost of the raise.
Gw
TYM Price at posting:
5.5¢ Sentiment: None Disclosure: Held
