10 million bucks spent in 13 weeks to 31 dec…ouch! The cash balance of 55 mill at 31 dec doesnt appear to include the 10mill refererred r&d refund but offset that with probably 3mill they spent in past 4 weeks if their last quarters run rate is continued. puts to bed anyones doubts as to whether or not they need a significant injection of fresh cash to complete anything….yes they do. At 10 mill a quarter and we havent really got out of first gear re phase 3, the mind boggles as to how much extra they need. Any guesses?
Ann: Quarterly Update and Appendix 4C - quarterly, page-6
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