1. NEU expects that it will continue to have negative operating cash flows for the time being.
2. As reported in NEU’s Annual Report released on 28 April 2017, and referred to in the Appendix 4C quarterly report, the NEU board is currently giving careful attention to a range of possible funding and partnering options, in order to support the future plans for Rett syndrome and other indications. In addition, as previously reported, NEU shareholders have approved the potential issue of up to 100 million additional shares to interests of Mr Lang Walker during the period to 30 June 2017, should the NEU board consider it to be necessary and in the best interests of all shareholders. 3. NEU expects to be able to continue its operations and to meet its business objectives, on the basis that, prior to 30 June 2017, it expects to execute one of more of the options referred to in answer 2 above.
4. I confirm that NEU is in compliance with Listing Rule 3.1 and that there is no information that should be given to ASX about its financial condition in accordance with that Rule that has not already been released to the market.
5. The responses above have been authorised by the NEU board.
Looks like it is confirmed that they are trying to do a deal prior to June 30. Great news! Might see the SP start to lift in anticipation. Only 7 weeks away!
They have Lang's cash available to they don't need to rush the deal and settle for less $ to hit the date.
NEU Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
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