Ann: Sales Update FY2012 , page-28

Yep, from the Quarterly:

"The Company’s burn rate is tracking at around $4m p.a on a current annualised basis."
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However, they are making savings. Today's ANN of $4.2m revenue just isn't so bad. If they can get a few more ongoing contracts like the nappy contract for about $500,000 per annum, they'll be good to go. These tiddlers have to raise capital about once a year- that probably won't change. The company missed out on $900k from not being able to place the raising shortfall this year, so that was a pity.

I don't know why CNN mentioned they could not give forward guidance- since when do companies at this end of the market give forward guidance? That's usually only for the big fellas.

I reckon CNN is doing ok. As Trees and others have said, it's a lot better than they were doing- the revenue rise is real, and they are cost-cutting. I recall that one of their biggest financial setbacks last report was some dilution from shares CNN holds in a privately-listed biotech- perhaps they can flog that off for a start.

Today's market reaction was not as bad as it looked: one tiny buy yesterday late arvo, pushed the SP up to .005. Then today, the market just sold a few back, but buyers started to build up again. The response seemed to be slightly negative to neutral, if the share price is a litmus test. Further to go here, but I reckon CNN is getting there. The strategic review seems to be ongoing, too- a cornerstone investor would be super.

Any chance CNN would be entitled to some of this Clean Energy fund money?

http://www.cleanenergyfuture.gov.au/biodiversity-fund/