The company had approx $34.5 M at the end of the June Qrt. The...

The company had approx $34.5 M at the end of the June Qrt.

The monthly (Nett) spend is $1.4M when you take out the bank interest the company receives.

This is the last quarter whereby a decision is to be made as to whether we proceed with a sale of the whole company or whether we don’t.

If not successful (share holders reject the bid) then the cash is to be returned and we wait for Escrow. As per their commentary in the last quarter.

Therefore another quarter of Nett spend of $1.4M plus any legal fees that would have been spent to deal with the 249D. Plus we don’t know the fees that will be paid to Treadstone even if they are unsuccessful.

But that should leave just over $30M to be paid back to shareholders during the last quarter of this year. Around 2.5c.


Does the above sound right or is it being too simplistic, Naive and idealistic.