Hi all,
Very new to this stock. I am a little confused as to what the quarterly said and the CR that just happened. The quarterly mentioned that it:
"The Rights issue
closed on 21 July 2017 with over 30% of eligible shareholders exercising their rights and raising over
$880,000. The Capital raise is in the final stages to bring this total to in excess of $2.6 million."
They raised 8 million. So I assume that the 5.4 million difference is used as working capital/infrastructure moving forward and the overall debt remains at 1.5 million. Most of which matures in 2018. Given it has an income of $4500 this quarter where is the revenue going to come from to repay debt? AND why the significant difference between YTD earnings $340000 and the drop to 4500? Also given its projections for the next quarter are 1.2 million the cash burn rate would seem they will be doing a further raise real soon.
thanks for any help
