They burn approx 1.4m Euro per quarter. Now that April salaries are paid I assume they’re breaching loan covenant and need to cure that. My (total guess) would be a 1.4m Euro raise to keep things running for another quarter to see if they can get all the clusters operational and prove recurring revenue. So my guess is $2.4m AUD at a discount to current share price.
KSS Price at posting:
10.0¢ Sentiment: None Disclosure: Not Held
