hi abobo.
great post. you know this company inside out and all your points are relevant. i agree with your financial estimates....best case scenario 20 mill from nameplate and the cash burn will still exceed this etc etc....
the points i was raising was strictly that if cmq was a brand new start up, you wouldnt develop the drug, build the plant, get the overseas approvals and any sales on the board for anywhere near the current market cap which is below $70 mill.
providing the product works then long term i think sales will have to increase. would i invest? well i have a small investment but nothing significant. would i have invested if i had done a greater amount of research prior......probably not! Its just going to take them too long to begin delivering returns to shareholders i think.
i am almost certain that they will meet the bonds covenants, even if the legitimacy of them doing so is suspect.
future funding wont come from australia, they will seek capital overseas. i think if we revisit cmq in 5 years time it will probably still exist and by that stage could have begun delivering returns but as i said in my previous post, it is going to be a very long grind.
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