Nice to watch some action finally. I feel that more good news will not be far away concerning Tibotec. This info was taken from asx price query, which clearly states a 40% improvement in cash burn over the preceding period. Cash is no longer the primary issue.
Avexa announced in its Appendix 4C on 31 July 2009 that it held cash reserves of $18.8million at 30 June 2009 and that these cash reserves would provide sufficient funding for at least 12 months of operations.
Consistent with that announcement and with the ASX announcement referred to in point 5 below, Avexa expects its operating loss before abnormal items and income tax for the half year ending 31 December 2009 to be at least 40% less than the loss for the previous corresponding period.
AVX Price at posting:
18.0¢ Sentiment: LT Buy Disclosure: Held
