As of 31 March, Ovanti reported just 0.41 quarters of funding remaining in its 4C, indicating less than three months of runway based on their existing burn rate. Since then, the company raised only ~$400,000 through a credit raise, well short of their stated $5 million goal. Unless their expenditure has materially changed, they appear likely to run out of funds soon. These figures are drawn directly from OVT’s ASX disclosures. If anyone believes this information is inaccurate, they should contact ASIC. Any individuals spreading misinformation or misrepresenting the financial position of the company should be aware that I will consider pursuing legal action Still keen @AussieHopper?
OVT Price at posting:
0.3¢ Sentiment: Sell Disclosure: Not Held
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