Althought Chairman, Steve Carter in his AGM report detailed that Colltech had significantly reduced their cash burn, today's quarterly details loss at over $600K and they have less than $700k cash at hand. Additionally they have fully drawn down their loan facility of more than $400K.
Even if they quadruple their revenue of 608 dollars they should be calling in the administrators in the New Year. Still can't give collagen away.
gone in the new year
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