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clock Created with Sketch. 25/08/17
10:12
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Originally posted by DollarDan
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Surely if you are trying to secure major deals with the like of US military and NASCAR they would want to see that the company had sufficient liquidity to meet obligations.
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I think they need to raise capital to reduce forward business risk.
FINANCE UPDATE As we stated in the 4C last month, Alexium ended the quarter with A$3.4M in cash and cash equivalents with another A$1.5M in receivables for a total of $4.9M in cash assets alongside a cash neutral month of June. While our cash burn has slowed dramatically over the past three quarters (to a net gain in June), a key part of Alexium’s strategy has been to ensure we have a healthy cash balance and working capital to enable rapid growth. In addition to our cash balances, receivables and cash generation from higher margins, Alexium made the strategic decision the seek to extend our working capital facility to support the growing rate of new customers and orders. The strong improvements in financial performance has enabled Alexium to field several attractive offers to extend our debt facility and improve our debt terms and a new facility will be completed shortly.
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