I did say burning 300K a month didnt say cash. Their losses are 1.89M for the 6 months roughly burning 300K a month. Their balance sheet indicates 266K in equity, a reduction of 1.45M over the last 12 months. Roughly 120K a month to me that is approaching insolvency.
Balance sheet is important here - but I could have stuffed up in my reading of the figures and if that is the case I retract my analysis.
Ann: Half Yearly Report and Accounts, page-11
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