Lets say that they bleed $10m per quarter they still have $97m in the bank which means that they would still have at least 2 years to go broke. This implies BAU and no cap raise required for the next 2 years. If you put on your accounting hat on then the business would also have increased cash receipts due to the ARR that it had captured from the prior periods. The problem that the company has is that it's hard to tell the amount the company needs additional staff for every $ earned, which is the second biggest cost driver. The company seems to finally be able to meet r&d and product manufacturing costs but staff has blown out I'm guessing due to the prior acquisitions and relationship managers required due to increased customers.
I'm on the fence with regards to whether or not management could do a better job with cashflow but If you write off negative cashflow companies in the asx you're pretty much writing off most companies outside the ASX200.
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Lets say that they bleed $10m per quarter they still have $97m...
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