Based on the documentation available to the the public its my understanding they should have roughly $2.5 Million Cash at the bank come the quarterly.
There is no question, based on there spending requirements they will need more capital soon.
Im pretty sure the last time they raised cash ( before the 2.8 cent raise )
They raised $10 Million @ 8 cents and had a very strong support for the raise.
Large share holders in this company have been very loyal and i expect the next raise given the progress they have made over the last 2 years to be a cornerstone investor potentially at a premium with a takeover possibility in mind.
I reckon based on the recent sub holder notice, that fund this time around will be an appraoch to the company from a third party instead of going down your traditional ASX Capital raising avenue. Especially if they are looking to protect there current share holders investment.
Pure speculation, but just a thought and this all could be a big possibility if we hear some positive news from IBM about the trial.
Cheers
IMO dyor etc.
TTB Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
