This is a little sensationalist.
- Based on their last quarterly, they had $3.9m in the bank as at end of Sept.
+ As you mentioned they are likely to receive $1.5m in net proceeds from the raise.
+ Some (albeit limited) shareholders may participate in the retail placement, but I’ve excluded to be conservative.
+ They have the working capital loan facility from NAB for $4m per the announcement in March. They also have $8m project debt for the local production of oat milk but haven’t included this here as largely irrelevant.
+ They just received $0.8m from Inga group for their investment into the German subsidiary.
Prior to FYQ2 spend, the company has roughly $10.2m (plus minor retail placement amount) of available liquidity.
A quick email to the company confirmed that they have spent circa $0.4m in OPEX in the German subsidiary so far. Extrapolating the spend from their last quarterly ($1.8m) plus the German OPEX ($0.4m plus rest of Dec), I wouldn’t be surprised if the company burns $2.5m this quarter.
I would say there’s likely to be another 3 quarters of liquidity available as at the end of Dec before accounting for any cash inflows from Germany / revenue growth in Aus.
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1.4¢ |
Change
0.001(7.69%) |
Mkt cap ! $7.471M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
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5 | 414332 | 0.012 |
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7 | 1168000 | 0.010 |
4 | 1470000 | 0.009 |
Price($) | Vol. | No. |
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0.014 | 265273 | 2 |
0.015 | 403049 | 4 |
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