Hi Kell, I'd like to comment on the paragraph that you seemed to...

Hi Kell, I'd like to comment on the paragraph that you seemed to take confidence in, stating that the company is funded till 2025 on current cashflows, if it received only the underwritten amount in the raise of $2,000,000
Firstly the quarterly for March will be very interesting, due to the following:
(1) The December 2023 quarterly and the half yearly report to Dec 2023 both confirm that there was $4,777,990 in cash and cash equivalents at the end of last year, this amount is after short term liabilities have been subtracted .

(2) The announcement of the issue entitlement prospectus show that there was cash and cash equivalents at the unaudited cash balance dated 29th February 2024 of $4,687,888, after subtracting short term liabilities of $1,464,725 , cash and cash equivalents on hand amounted to $3,223,167 this is at the end of February.

(3) We don't have the quarterly for March, so we need to assess what actual cash would be left by the time the CR was finalised at the end of April,( 2 months after the end of February). We spent and owed short term cash of $1,554,827 in the 2 months from end of December to the end of February.

(4) If we assume around the same expenditure and short term liabilities from the 2 months dating end of February to the end of April then there would be around $1,600,000 left . If we only raise the minimum of $2,000,0000, we will have $3,600,000. less the $1,400,000 for potential lenders to complete due diligence.
(5) This then leaves only $2,200,000 approx for rest of June quarter and the other half of the year for all other expenses. We still have what is left of the Acuity Capital finance facility of around $3,970,000 however (I hope) but as far as actual cash goes we would only have around an extra $600,000 up our sleeve over and above what we will likely have at the end of April prior to the minimum raise funds becoming available, If we only get the $2,000,000 could anyone conceivably believe that paragraph we can last till 2025 at the current rate of burn and with only achieving the underwritten amount.