Seems at the end of june quarter they had 239k burn and 2,688,000 in the bank. As far as i was aware a large part of the cost of the usa expansion had been charged already but that could be wrong.
If sales are increasing as they suggest and the last loss was 239k then hopefully they have enough cash they dont need cr. As usa sales come in the income should only grow hopefully. As far as i can tell the latest record sales are for their existing markets so there should be no great increase in cost outside the standard per unit manufacture price.
I dont think they actually need to prove anything to the asx re cash, they just have to make a statement that they are financially viable. At least that is the impression that i get when a company like Kollakorn (KKL) is allowed to continue trading when it started the quarter with 50k in the bank.
I understand what you mean it would be better to get cash from the options than a cr. I guess the current situation is a pain all around as oppie holders have no real incentive to convert at current levels yet the overhang must be part of the reason we keep getting sold down heavily above 3.4c. Roll on 2 weeks time
CDY Price at posting:
3.4¢ Sentiment: Buy Disclosure: Not Held
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