Ann: Successful Results of Phase 1 Clinical Trial, page-48

Haha another capital raising and I'm out.

Seriously though all big expenses have funded (Duncan, CBD distribution infrastructure, Regulatory expenses and advisory expenses). Total operating and investing cashflows should decline or very least smooth out this upcoming quarter.

What is worrying is that the Investor base, despite best efforts, correlates MMJ's future to Australian regulatory change. As of right now MMJ has no tangible revenue related interest in Australia. Should interest change, it would require significant capital expenditure to set up anything here as it is such a burden to accumulate licensing approval for their current/future products developed outside Australia. That is what the $2m private raising was original implied to be for. However $2m isn't much considering current burn rate and will very quickly run out if CBD revenues don't pick up and everyone keeps calling for an Australian involvement.

All that being said MMJ is young and doing excessively well for a young organisation. Problem is us early investors will very quickly become diluted if revenue doesn't pick up.