Now that is desperation.Cash flow so tight they need to borrow...

Now that is desperation.

Cash flow so tight they need to borrow $350K in advance of a government rebate that they should (hopefully) receive in 9-12 months time.

The only positive I guess is that those connected to the business were the ones who stumped up the money. That means they must have some faith that money will be repaid through the grant, not necessarily that the business will be profitable enough to pay. It may also mean, despite painting a pretty picture, that it was the only source of finance left available to them.

However it does highlight how tight things must be for the company.

I am surprised they don't remove themselves from the ASX and go back to being a private company.

Anyway. Just my opinions again on a company that has really struggled to commercialise its products despite having been trying to do so for a number of years now.

Milesy