No way. The cashburn will increase from $1.5M to $2.5M with...

No way. The cashburn will increase from $1.5M to $2.5M with Kaddy.

Kaddy have $900k revenue & the 21 staff/offices will cost circa $2.9M = $2M pa cash burn or $500k per quarter.

Parton's will add another $250-500k per quarter cashburn.

Then there is also $1M capital required to fund Partons expansion + $5.3M capital required to fund Kaddy expansion = $6.3M cashburn.

Looking at cashflows the balance was $6.785M at 30/6/2021 + $7.5M CR Partons = $14.285M - $4M Partons debts = $10.285M - $2M cashburn Q1 FY22 = $8.25M + $14.75M CR/SPP Kaddy = $23M - $6.75M Kaddy = $16.25M.

Then they will spend $6.3M to expand Partons/Kaddy leaving about $10M / $2.5M per quarter cash burn = 4 quarters funds.