So one of my concerns is whether PIQ have the reserves to keep functioning until revenue starts flowing.
The net spend this quarter was about 1m. I imagine they’ll get an R&D grant this quarter, so that should keep net spend at 1m or less.
I have no idea when Sonic will pay royalties. Monthly? Quarterly? But I’d expect revenue to start flowing in Q2 2024 (yes, earlier would be good) and have kicked into gear by end Q4 at worst.
So it looks like there’s a reasonable chance they’ll make it through to being cash positive without running out of money.
30 day comment period is nearly done, so I don’t know if there’ll be some sort of ann to say that everything is on track.
PIQ Price at posting:
86.5¢ Sentiment: None Disclosure: Held
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