Interesting we are seeing a few open briefings but this company needs revenue not open briefings from the chairman.
It looks like there is a placement coming as the last update showed they would of run out of cash in the April quarter if they did not raise the proceeds they did in March
At the end of March there was $900k in the piggy bank , and the burn rate was about 450k in the same Quarter in 2015 we will have reported on in just a few weeks
That leaves one quarter of cash at a time the auditors are preparing the accounts , so come September none left .
Might be worth a punt at 1 to 1.5 cents in a placement , but I cannot see any reason t buy on market when the sell side is so thin you can buy but there is no one to sell to if you need to get out
AVX Price at posting:
2.0¢ Sentiment: Sell Disclosure: Not Held
