They have $705,000 in the bank but anticipate not needing to draw further on the Citywest Corp facility. Other facilities there, Spring Tree, same corp which is backing PRR. Looks like some cash coming in soon and should here about UK launch soon. When will this bio comp run and have its day??
From the Quarterly; "The directors anticipate that in the third quarter this financial year the company will also begin recording royalty receipts from its UK and South East Asian distributors. Details of the launch date in the UK will be released to the market once the company finalises instrument correlations and IT checks. The company also continues to have access to the Citywest Corp convertible note facility if necessary, of which $2.25 million remains undrawn. Given the above funding sources it is unlikely the company will need to make further drawdowns under this facility."
HTX Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
