If so, I would still be concerned with its cashburn rate (cash on hand BOQ = $203,000, vs EOQ = $18,000). Customer receipts during the quarter also added $1.07m in cash, vs cash outflows of ~$1.25m.
Salary costs added up to 50% of costs for Q1, vs 58% of receipts' value.
Purchases (presumably COGS) was ~$400k (or 32% of costs).
The share placement @2.25c to raise approximately $250k will only buy TEE support for another 3 -4 months at this rate. That's 11m new shares to keep the company going for another few months.
And what of the delays in collection of outstanding debts that were referenced in the Commitments Entity Report? Why mention this unless TEE is sailing pretty close to the wind.
I, therefore, agree with you about TLE, but not with TEE.
TEE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
