By my calculations (from the App 4C from last quarter) $331K was made "inrelation to its licence and feasibility study agreements."
Of this $100K would have been received from the Zelda deal and $100K USD ($134K AUD) from the Mitsubishi deal.
That leaves about $100K over the 3 month period for contract research invoices.
That at $33k/month is, as you say, a long way from the $150K/month figure bandied around at the last AGM by Carter.
Given that there shouldn't be any other income sources (tax credits, up fronts etc) the 4c due in a couple of weeks will give a pretty good indication of lab driven income from that period. There may be still some lag between the research effort ramping up and the invoices getting paid so that need to be taken into account. But I reckon the focus very much needs to be on the next 4C and how much income has been generated, before we do anything rash.
HANG ABOUT....
Having read this again it sounds like I'm trying to protect Carter. That ain't the case. I have been calling him out for his arrogance and lack of experience, as well as his ASIC prosecution, for longer than most (except for maybe GolfR).
His lies, failed forecasts and arrogance are his means of convincing everyone he's all over this biotech bollocks and therefore he's worth his $350K pa. He's not. He can buy stuff (Artimist, Oromist, Anagrelide) and raise capital but as some one else has said he can't close a deal. I expect his technical prowess is limited and the lab staff are the ones responsible for the hydrotropes IP. The sale of WestCoast was undoubtedly facilitated by Bellingham, and the deals done to date mostly thanks to Wolfy's efforts.
He needs to be gone. A bunch of substantial shareholders need to get together and send a letter to the Chair recommending his dismissal. Hopper then needs to step in and have a word with Mike to generate some further shareholder support for an EGM to p!ss the pr!ck off remove him from office.
But after the next App 4C....
SUD Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
(20min delay)