Originally it was July with results showing in September quarter, now in September quarter they are laying more people off, capital raising to keep this afloat, by the way I believe it's currently insolvent as they had 3m end of July and raised 2.5m Insto plus 1m CR from ex SH. = 6m in the bank!
Cash burn rate of 4.5m a quarter leaves 2m left at the end of September quarter, if they are lucky! ASX requires two quarters of cashflow to be solvent.
The Insto will not contribute another 2.5m as it's below the 1.1c mark and has a break free agreement in place.
Based on previous announcements and Q&A sessions they have done nothing outstanding to base staying involved.
Good luck with the coming Q&A as you'll get nothing new from it other than tequila straws....
Originally it was July with results showing in September...
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