Nick had emailed me those replies and I believe that this may be in play: "we continue to pursue opportunities to attract strategic corporate and financial investors", so as they state "while the company finalises a capital raising" this could mean that they are not tapping us but doing as mentioned above.
I'd be rather unhappy if they try and tap us considering the emails I got, but if it is just straight to strategic/corporate investors then it is in line with what I was told:
The emails from Nick:
"Thank you for your enquiry. At the end of January, we had net cash of approximately $2.2M. Excluding our income/revenue streams, our monthly operating burn is $440k. Hence, given our anticipated revenue streams, we are comfortable with our cash position. We are targeting cash sustainability in 2012 and, as part of our growth strategy, we continue to pursue opportunities to attract strategic corporate and financial investors"
"Our revenue is inherently lumpy but with increasing numbers of revenue streams, we aim to smooth out the lumps and achieve quarter on quarter growth. In relation to capital raising, be assured that we are not contemplating a rights issue"
PYC Price at posting:
6.7¢ Sentiment: LT Buy Disclosure: Held
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