Is Colltech sailing into the sunset or is its ship comming in? I have been concern for some time that Colltech's high cash burn rate and no revenue would result in it heading for administration.
Recent placement raised about $400k which is about enough for about 2 months at their usual burn rate. Given Colltech's failure thus far to generate any revenue you wonder what rosy pictures Steve Carter painted to those who handed over their money and the 3B didn't disclose who the 24M shares went to.
From Colltech's last quarterly, with its then cash at hand, expected grant payment and the placement, without renvue it should run out of funds early in the July quarter. Thus given the successful placement and the burst of high volumes traded around the time of the placement is there a likelihood that some sales are on the horizon?
Is Colltech sailing into the sunset or is its ship comming in? I...
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