Surprised nobody has mentioned the huge spend in the June qtr....

Surprised nobody has mentioned the huge spend in the June qtr. Previous qtr saw $2.4M spent and this qtr has ramped-up to $4.4M, leaving them with only $2.28M.

In my view, it's now (surprised to be saying this after the company just raised $6.3M) a bit of an elephant in the room whether they will need to hit the market up yet again, prior to INV102 results. One certainly hopes not but if they only had $2.28M as of June 30th and we are now 2 months down the track, one suspects cash would nearly be exhausted, given they are not just running a single trial. One wonders why they did not raise further funds when they had the chance, or whether, 1) their costs have been higher than expected or 2) they expect to be able to raise at a higher price, post INV102 results.

Whatever the case may be, clearly dialogue in the qtr report suggests it's on mgmt's mind and let's just hope the previous follies of the company's capital mgmt strategy, vis-a-vis Lind Partners, aren't repeated.

The cash position of the Company is under constant review by the Board, and the Board is considering its options to ensure that cash resources are in place to see the Company through its forthcoming clinical development and business milestones.