What has spooked us all is the very high cash burn, coupled with the diminishing pile of capital, and the low gross margin for our flagship product.
Put simply, I believe management owe us some guidance on H2 cash burn, if indeed they believe we won't be going back for more money in the middle of the year. If they can restrict it to $6m spend per year, we'll be home and hosed. But $11m/half is preposterous.
I'd also like to know some specifics about the travel - i.e. they should not be flying in business class, staying in five star hotels etc, while cash is still such an issue.
good bad or indifferent, page-44
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