Unless there is a "deal in the wind" the financial future looks very bleak.
The recent announcements are great if you have money to spend on R&D as they provide rebates on money spent I.e. if u spend money you get money back.
At the end of Sept 23 Recce had $8.4 million in cash (after the CR).
The average quarterly R&D spend is $2.4 million and admin spend is $2.0 million.
Accordingly by the end of March 24 there will be very little cash left. Certainly some time in the June 24 quarter there will be nothing left, even allowing for R&D rebates.
A miracle is required!
Ann: RCE Awarded Further $11.17m Advanced Overseas Finding, page-25
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