Key points from today's Appendix 4C: Purifloh is planning to:
. Treble R&D from $418k in Q2 2018-2019 to $1.25m in Q3
. Slash admin and corporate costs from $654k to $100k
. Run down end-of -quarter cash from $8.6m on Dec 31 to $7.15m on Mar 31
The latest quarterly reveals that PO3 paid top shareholder Dilato Holdings $443k for accounting, administration, rental services and prior accruals in Q2.
It paid $418k to Detroit-based affiliate Somnio Global for R&D.
Somnio seems set to be the main recipient of the ramped up R&D budget.
What will it spend the money on? Tech to destroy TB, eliminate smoke and other pollutants from air, de-bug medical surfaces, clean swimming pools...or all of the above plus more?
PO3 Price at posting:
$4.00 Sentiment: Hold Disclosure: Held