writing on the wall

By the consistent way they burn cash Colltech have 3 months to go before they either make sales, find a benevolent financier or wind up.

It is of interest that they made the following figures for the quarter.....

Sales $4,673

Payments to suppliers $310,847
(not much profit there after buying all those supplies to make collagen)

Salary, wages and Director fees $367,124

Costs are 145 times the value of sales. I don't see much joy in that.

They did note that they needed an experienced sales person on the payroll....mmmm.....that appears obvious seeing they will all be out of a job if they don't hire that person very soon. I did think the ex Johnson & Johnson bloke was supposed to sort that out but he appears to be just another snout in the trough.

They are surviving on Govt. grants and tax concessions so we are all paying for these inefficient pseudo scientists playing chemistry 101 games on the ASX.

Definitely lights out very soon in this market.