Wayout,
I agree, the available cash at the end of March 06 was $1.8M and assuming they continue to burn almost $200k a month (item 1.2) that would mean they have sufficient funds to last until Xmas 06.
However, it is quite probable that CAU will burn more than $200k a month during this period and will exhaust the available funds by Sept/Oct 06.
Firstly, they will need to purchase additional plant and equipment to overcome the existing salt extraction issues. Hopefully this is fairly inexpensive.
Secondly, I imagine there will be quite a bit of travel during this period in an attempt to secure sales, mainly to Asia but possibly the US and other countries.
Thirdly, assuming they do reach "final Product" status with Ovicoll 'C' (big assumption) and assuming they secure a sales contract(s) (even bigger assumption)then presumably they will need to hire additional personnel to cope with the increased production.
So, assuming they have sufficient funds to last 'til Sept 06, CAU will have to act soon (we're already in July 06) to raise additional funds. Even if they reach "Final Product" status by the end of this month(????) and secure a sale(s) shortly after it's still cutting it very fine.
In my opinion, they (CAU) will have to raise additional capital and they will have to do so fairly soon (next couple of months).
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Wayout,I agree, the available cash at the end of March 06 was...
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8 | 562598 | 0.070 |
3 | 548913 | 0.069 |
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Price($) | Vol. | No. |
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