cash burn is a significant problem

The company is doing all the right things to get the sales lines in place but in the abesence of a huge and rapid turnaround in sales performance the unfortunate reality is that they will be out of working capital before formal distribution agreements are entered into in Chile (90 days) and any sales from the Mexican seminar eventuate (earliest cash on term sales October). Given the most recent off market placements were at a considerable discount to the actual market price and it was evident that the recipient took and dumped to cash out unfortunately I think we are looking at the same again.

Proposing to hand out vast amounts of equity to management does me no favours, I want to see sales performance first and deferral of entitlements until that occurs. Therefore I will have a look at this stock again when they announce some significant sales to offset the immediate cash burn, or participate at a discounted placement if the terms are right.