share price, page-13

I wouldn't count out a capital raising either.

Cash at bank at 31st Jul 2010. $2.8M. -> 5 weeks later August Notes Issue was announced was for $3.8M.

Cash at bank at 30th Sep 2010. $1.9M. -> 1 week later October Rights Issue was announced to raise $2.67M.

Cash at bank at 31st Dec 2010. $2.0M. -> No capital raising in current quarter.

Cash at 31st Dec: $2,035K
add revenue to be paid on Woodside job: $620K
Net Cash available for 2011: $2,655K

Operating Expenditure
Jul 2010 - Sep 2010 $995K
Oct 2010 - Dec 2010 $1,059K

So assume at least $1,000K for Jan 2011 - Mar 2011. Thinking staff costs should be same and receiving around $300k lower from GST. Doubt benefits from cheaper premises will have kicked in this quarter.

Investment in physical non-current assets
Jul 2010 - Sep 2010 $3,167K
Oct 2010 - Dec 2010 $1,234K

As GT3000 construction completed, less money was spent here, but doubt has dried up altogether. E.g. costs for custom equipment manufacture and import from Singapore. Assuming we've spent (or commited to spend) anywhere between $100K to $500K on physical assets during this quarter.

Leaves guesstimate Cash at bank at 31st Mar 2011 around $1.1M - $1.5M, which IMO must be close to triggering a capital raising sometime soon with or without a contract.