10 May 2021 - Forecast of Breakeven end to FY21
9 June 2021 - Forecast of $15m loss before tax for FY21.
Obviously lockdowns will have an impact, but $15m loss in just under 2 months is a significant burn rate. Especially when considering we're at a ~$140m mkt cap.
Although they reported an increase in cash reserves in the May update (and some of this will be returned to customers with their covid refunds), at the current burn rate, they may need to dip into the remaining funding in the PAG agreement earlier than expected.
Here's hoping the lockdown in Melbourne lifts soon and they can start delivering on their strategy.
10 May 2021 - Forecast of Breakeven end to FY219 June 2021 -...
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Last
56.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $63.96M | |||
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