Raise is $1m-$1.7m @0.003 with 1:1 options @0.005
I hope that helps.
FWIW... With 60c in every $1 of revenue gone in production costs... And then 80c in every $1 of revenue gone in marketing... And then staff and operating costs exceeding revenue altogether... need revenue to at least double just to at least break even.
Whilst advertising can at least remain a fixed cost as they scale up... Any scale up in production to increase revenue would likely require an increase in production cost and staff costs as well.
Not sure how much the management are paying themselves, but IMHO really this just looks what should be a small family run LTD business... in which case the directors would likely be funding the business themselves to keep it float and grow and certainly not taking a large salary for themselves (like most small family run businesses).
The 4C indicated 1 quarter of cash left... along with the comments in 8.6.2 you could see they were going to raise. That comment looked like they are pretty comfortable and confident putting their hand out for money.
GLTAH
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