Hey Hawks,
Although I'm taking the flak, it was Covata who said they will need to Raise additional cash funding (refer to section 6b of their annual report). That's just a fact. It means they do not have enough money to get through to mid 2016.
It also notes they paid $4.6 Million to Sumatics and $1.4 Million to Asia Principle capital to get the Cisco deal, so I'm not sure paying $6 Million for a deal is considered "Landmark", but I'll leave that to the speculators. (Ref Page 8 annual report). What the report does show is that it created some nice bonuses for them, without hitting any revenue targets.
Hopefully they will release a Quarterly Cashflow statement for the July-Sept quarter showing growth in revenue for the period. This could clear up any disagreements, but I suspect people wont be happy with those facts either.
Good luck for the Hawks on Saturday.
Cheers
CVT Price at posting:
32.5¢ Sentiment: Sell Disclosure: Not Held
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