RFN: As at 31 December 2015, REFFIND held cash (including cash equivalents) and term deposits totaling $4,654,918 (30 June 2015: $36,744). Expenditure is in line with forecasts and reflects the investment in sales & marketing operations,product development and expansion plans, both domestically and internationally.
Net cash used in operating activities during the half year ended 31 December 2015 was $2,400,483
Given that RFN are about 3 months into the next half year and with most of their expenditure being spent on US expansion in USD, assuming their cash burn was in line with their last half year expenditure it would be fair to say that they've got approximately AUD $3.4m left in the kitty or converted to USD $2.35m.
Current funds will only tie them over for a few more months, can smell a Cap Raise coming around the corner any day now for RFN it will probably be somewhere in the low 30's cent range is my guess. At least for 1PG they were smart enough to raise $50m close to the peak rather than down in the trough, unlike others 1PG is all set ready to ride out the next wave where as other wannabe tech stocks will be waiting in the soup line for their next handout.
That's my piece tonight
Good night
1PG Price at posting:
$1.48 Sentiment: Buy Disclosure: Held
