Carter has been associated with Colltech since 2005 after leaving Solbec in a complete shambles and imbroiled in a major conflict with the TGA. It has taken the new management of Solbec a lot of effort and time to re-establish a reasonable working relationship with the TGA.
additionally under Carter they had huge cash burn rate is now only about a third of what it was under Carter.
It been nearly 12 months since OVICOL C got it approvals and 8 month since the PCIA in China and still we have NO SALES. With $1.2M in the bank, all loan facities drawn down and a cash burn cash burn of $800K/qtr, I wonder how long Colltech can last without some major revenue inflow.
As I have said before, all we need is some major sales to turn it around.
Carter has been associated with Colltech since 2005 after...
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