I think investors need to see some money coming in before this will move much. There's simply too many blue-sky-gazing startups on the ASX with talk of big pipelines and market potential, partnerships with key players, trials with industry leaders etc... but no revenue. These guys have had a sales force out there and have been talking up opportunities and pipelines for nearly a year (or more?) now, they need to show some money coming in to match all the talk before anyone will get too excited IMO.
At the moment their cash burn at $600k per quarter is significant and it would appear another raising is inevitable at some stage with ony $1m left in the bank. Receipts from customers almost insignificant at $28k per quarter. Not sure where the ~$5m enterprise value comes from, it's significantly over valued by my assessment.
CT1 Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
