The 525K is before the $1.2m Jonah capital have put in and the $0.8m convertible note facility. Africal Lion have also put in a further 500K so that means $1.7m cash has been injected since the last quarterly. Add the 800K convertible note and $2.5m in additional cash reserves have been added to GFL since the end of the quarter.
What this means to me is that there is no guarantee of a capital raising any time soon. Let's see what the cash balance is at the end of the December quarter.
one to watch in 2011, page-15
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