shareholder update, page-4

Actually, the bigger problem really is cash. I don't understand how Manny can say the company is operating profitably when the Monthly cashflow reports are showing that a/ ICP is buring negative $300k per month and b/ the company only has $600k cash. That would seem to mean they need a raising and the shareholder update looks a lot to me like a very quick marketing letter targeted towards potential investors rather than current ones.

Mind you, it isn't a great market for capital raising at the moment if you haven't noticed.....