Net loss of what? 3.3m last 4c after 1.92m cash receipts. With no increase in cost you need over 5.22m to break even. Add another 400k at least for Limepay's cost base and you need around $5,600,000 in cash receipts to arrest the drop in cash and cash equivalents. I'm pretty certain that ain't going to happen however would be nice to see the gap to profitability at least start closing and not continuing to increase.
Cash and cash equivalents means nothing if it's not all usable. The usable cash is $4.8m. That's now precarious to say the least. The only thing saving it ATM is that apparently the R&D payment was received subsequent to the end of the quarter so if you believe that you can add 4.8+1.6= 6.4m. Even that's not a runway of 6 quarters.
If all of the positive numbers don't eventuate in December 4c expect a CR IMO. Makes sense why they freed up the extra 25% dilution at the AGM. I think they're using the really high Swiftstatement member sign-on projections to pump the SP. That's understandable I guess....
So will the full 1.4m license fee actually be received this quarter?
What will the actual number of members signed up to Swiftstatement be? Also remember the lucky ducks get the first month free. So expect some SaaS revenue from December onwards, November won't count apart from some of the trialists?
When will the Lessn platform become compliant? Safe to say no revenues will be received regarding the "new big client" in the December quarter.
So in summary there is reason to be cautiously optimistic as CY25 approaches however a CR might be required over the next 3-6 months IMO, DYOR.
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