Projected Cash per Share at 31 March:So based on this, the...

Projected Cash per Share at 31 March:


So based on this, the "bottom" is 10 cents.

The Annual Report will be published sometime in the next 12 days. The Auditor will have to make a "going concern" statement with a projected $14 million in cash and a quarterly burn rate of $13 million.

Maybe they'll do better than last quarter? Maybe they'll get an extra $2 million from Nunyara? They are already saving money on the salaries of the US CEO and VP of Finance...another half million? How many other people could they cut and still operate well enough to stay in business and reduce that burn rate by a meaningful amount?

Could they do a CR in the current envirnoment? At what cost to dilution with the current market cap equal to two quarters of the current burn rate? (No way. Just, no.)

If I had fiduciary responsibility on this board, I'd be throwing in the balance sheet now and trying to get that 10, maybe 12 (liquidating other tangible assets) cents at least back for the shareholders.

If there are honest, intelligent people running this company, I would expect orderly liquidation very soon.

https://hotcopper.com.au/threads/current-bull-run.5207921/page-48?post_id=42946829