RNO MC (539.44 m shares * $0.045 SP today) = $24.27 m SP $0.045...

RNO
MC (539.44 m shares * $0.045 SP today) = $24.27 m
SP $0.045
Cash as at 31.03.15 = $2.818 m

Company has stuck important sales agreement with ResMed Inc (NYSE:RMD, ASX:RMD - around $9,846 million MC) to sell Mute ™ snoring and sleep technology. This is the company’s third distribution deal since February for the novel nasal device.

27th April 2015 - company presentation
> GLOBAL DISTRIBUTION NOW ROLLING OUT (so company MAY announce further sales agreement with other BIG companies as well in near future)
> Pharmacy distribution in Europe and US 2015/16 (Sales agreement for US market imminent IMHO)

30th April 2015 - company announcement
> Towards the end of the quarter the company announced that Symbion (part of the EBOS group) would commence distribution of Mute™ with other distributors expected to follow
> . During the quarter, the company has also commenced negotiations (so there would be more sales agreements IMHO)for distribution of Mute™ into the global sleep market.
> The company is now awaiting ethics approval for the clinical trial of its new Obstructive Sleep Apnea technology, developed during the quarter
> Just prior to Christmas, the company began an independent trial of its Turbine™ technology at the University of Western Australia School of Exercise Science. This program will report mid year.
> CEO - “We have received strong interest in the Mute™ technology from companies with strong market positions in the global sleep category and will update investors as this dialogue matures.”
> We are developing strategic long-term relationships with major international companies in the global sleep category, which will open new valuable markets.
> The company has $2.8 million in cash as at the end of the quarter and anticipates that growing revenues will offset cash burn in the coming quarters. (This means NO CR in NEAR FUTURE)
> Divestment of Vibrovein™ Asset - The company has received an expression of interest in purchasing the Vibrovein™ “Marxman™ brand” technology.

Shares traded in last two days are approx. 201 million & 129 million. So I also expect "Change in substantial shareholding notice" soon.

Please DYOR