Re: options From what HAV is saying, it seems whether...

Re: options

From what HAV is saying, it seems whether shareholders vote for or against the options, they are being issued regardless. Doesn’t pass the pub test!

Re: cashflow

Investec facility has a maturity date of 12 months, expected to be November 2019 (QR commentary pg 11).

Using various assumptions sourced from the QR, and assuming a worst case scenario of NO REVENUE & NO CMC INSTALMENTS #, it's likely that HAV will have tapped out its facilities by then:

	Column 1	Column 2	Column 3	Column 4	Column 5
0	QUARTERLY FORECAST	31/01/2019	30/04/2019	31/07/2019	31/10/2019
1	OUTFLOWS	1,318.0	1,342.0	1,342.0	1,342.0
2	INT-NAB	3.5	7.5	7.5	7.5
3	INT-INVESTEC	1.7	31.2	71.3	112.3
4	R&D ATO PAYMENTS (SAY MTHLY)	230.8	230.8	230.8	230.8
5	OUTFLOWS INC INT & ATO	1,554.1	1,611.6	1,651.7	1,692.7
6
7	LOAN BAL-NAB	-500.0	-500.0	-500.0	-500.0
8	LOAN BAL-INVESTEC	-733.1	-2,344.7	-3,996.4	-5,689.1

It's unsurprising that an EGM has been called.

DYOR

# Per QR commentary pg 11, HAV is forecasting CMC instalment receipts totalling $7 million during the corresponding period.