Their cash burn is horrible, torching 3.6m a quarter on staff costs, admin and r&d (capitalized staff costs?). The cap raise will only last them another 3 months if the are lucky, I reckon they'll only pull in 1-2m in the SPP.
This company spends like they have 20m in the bank.
Will be interesting to see how this plays out towards the end of the year, could easily turn into a 1 cent stock.
I'm Holding unmarketable parcels over many accounts, doubt they will see my SPP cash, no liquidity anymore to get out if I were to put 30k in, yet alone 3x30k.
Good luck punters, Chow really stuffed this up royally imo after initially trading mid 30's with so much promise
CHM Price at posting:
3.7¢ Sentiment: Sell Disclosure: Held
