Our burn rate of $1.2 mill per quarter with only $4.7 mill in reserve and an ASX requirement that any ASX listed company shall have no less than 12 months operating cash in reserve to continue to trade on the ASX. Therefore unless us holders are given a crack at dipping further into our pockets and pulling MMJ out of the crap completely via CR (which many probably wouldn't be prepared to do, but what's the alternative? Crash and burn if this license takes a further 18 months?) than we are skating on very thin bureaucratic ice.
We are fortunate that last SP price drop didn't active too many stop losses but if we drop much further below $0.2 again we might not be so lucky.
I personally have a lot if faith in the concept of this company, I just don't a heap of faith, like many others, in the operational ability of the company and this recent news release of Medijean's demise is a wake up call to all reminding us of the grim realities of this industry.
