@hopeful2 The other consideration is the R&D incentive of circa $1m (based on FY18 spend)... typically this arrives in the Mar Qtr (for the prior financial year). So it's reasonable to assume that a $1.5m (not $2.5m) shortfall may happen, albeit I suspect this is at the high end... but this depends on many things.
So the Bank Balance as at 30 June 2019 is likely to be in the vicinity of... $2.5m to $3.0m. (Dec 31 Balance $2.9M + $1.0M R&D Incentive Less 2 more quarters at say $0.6m outflow each).
Either way, I certainly take your point that a Raising can't be ruled out. I would say it's on the agenda and may be considered toward the end of 2019 if cash burn is still an issue and/or a business case for BodyGuard (or whatever) is presented (and assuming debt or similar is not a realistic option).
OBJ Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
(20min delay)