My position on a CR in the next 3-6 months is that I personally don't want one.
If you're asking what I think the likelihood is that there will be a CR in the next 3-6 months, well I think that's a question that any answer at this stage is merely a guess. Once the December 4C is released we'll have a proper picture of the impact of Limepay, whether that's a net +ve or a net -ve, and also whether the revenue from the Spenda customers has grown meaningfully from the September 1/4.
The September 4C showed the net operating cash deficit of $2.132m (i.e. excluding additional cash deployed in the lending and cash received from Limepay acquisition completion). Therefore, if the December 1/4 can close that operating cash deficit to $1m, then the cash runway has doubled. But if the operating cash deficit does not materially decrease, then a CR becomes much more likely, although I'd much rather the company acquired a debt facility for working capital rather than doing another CR at these prices.
SPX Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
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