Unbelievable !!Raise $1M last quarter and spend it in 3 months,...

Unbelievable !!

Raise $1M last quarter and spend it in 3 months, with only $213k left in the bank. What a disaster!

$500k on R&D?? why would you spend $500k on R&D and only $66k on production. This company has no product to sell !!

Last year they had Revenue of $844k.

According  to this quarterly with revenues of $101k they are on track to $404k revenue for the year! A drop of more than 50% !!

So, raise another $1M for the Quarter? No chance IMO.

This company may be heading into administration just like Newtel.

Peter Malone you have done it again!

I feel for all the holders.