Given the lack of significant action by RGI they have kept their cash burn rate down better than I'd expected, $645k for the quarter, $2.7m for the year. Left them with $1.6m cash at the end of June 2021 but with a further $2.2m less costs placement in July and the deposit from Wolf Island Cannabis.
Given that one of their earlier customers, Oakum Cannabis, is about to commence commercial sales of cannabis produced using RGI technology I'd have liked to has seen some mention of them in this quarterly, perhaps in the next one.
Some movement finally, albeit very small, with three 710 model growing units in production for shipment to Fresh Leaf in Victoria, Australia within the next two weeks.
Appears to be a slight slippage with Wolf Island Cannabis with shipment of 20 growing units and 1 fertigation system to be made by the end of 2021, originally the plan was for shipment and installation by the end of 2021.
RGI Price at posting:
3.8¢ Sentiment: None Disclosure: Held
