With the Quarterly due in the next few weeks, I'm excited to...

With the Quarterly due in the next few weeks, I'm excited to hear of the sales progress made with Promega in the Qtr.

I have had a look back through some past announcements for any hints, and here is my take.

Cash on hand post raise - $14,489,000 (SPP announcement)
less amount raised - ($9,379,000) (SPP announcement)
Cash on hand immediately prior to raise - $5,110,000 (Estimate)

Based on a cash on hand figure at 31st March 24 of $4,510,000 (March Qtr. Announcement), it looks as though IIQ have increased their cash on hand position by $600K for the Qtr (ex raised funds).

If we assume an R&D tax incentive refund similar to last year ($582,000), there is a real possibility that sales are now equal to expenses for the Qtr, with no cash burn.

Potentially a substantial increase in sales volume when compared with the March Qtr incoming, time will tell...