4C indicates significant cash burn and only 0.41 quarters of funding available. When you amended projections to allow for the inflow of capital from the $5 million CR which had a shortfall of $4.6 million, this only extended funding runway by 0.10 of a quarter, which is a disastrous outcome. if cash burn remains at the same rate as last quarter then they’re due to drain their cash reserves completely in the next week or two. Unfortunately without cash and market confidence, which there appears to be a lack of, the company is on complete turmoil.
Please point out any false or misleading information in this post. It’s all data from their ASX posted announcements.
OVT Price at posting:
0.3¢ Sentiment: Sell Disclosure: Not Held
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