OK... Just reviewed the quarterly and cash at hand is spot on $18 million - I should have been a chartered accountant!!
Anyway, projected expenditure for next quarter is around $5 mill (quite a high cash burn)...but another $6 mill from options (provided they are exercised at $1) up to April 2011 and then another $3 mill in 2012.
So all up you could say approx. $27 mill cash to burn over the next two years should be no need to raise capital unless the share price dips well below $1 and options are not taken up.
IOH Price at posting:
$1.34 Sentiment: Hold Disclosure: Held
