"Just out of interest, you mention they are close to breakeven....

"Just out of interest, you mention they are close to breakeven. What are you basing this on?"

TCC,

31 march 2012 Quarterly (4c)

Year to date Cash Burn $3,478K
For March period Cash Burn 892k

If I forecast the 4th Quarter costs to be similar to 3rd Quarter would give me Anualised Cash Burn of $4,370K

Sales Update FY2012 on the 25 July clearly identifies revenue for FY2012 to be 4.25M.

So anualised burn of 4.37M v's 4.25M Revenue FY2012 only about 120k away from Breakeven point.

More importantly the Revenue in March for 9 months was only $2,736k which means approx $1,514K come in in the June Quarter clearly showing Revenue is increasing, all good signs.

Definately a re rate on the cards for this one very near term.