I disagree that it has run too hard, or that a CR is required in the short term. $2.3m cash at end of quarter leaves us with several quarters of cash at current cash burn rates. In addition, revenue is increasing steadily quarter on quarter, extending the cash cover.
The increase in income is based on steady growth in the number of pharmacy customers stocking the existing natural skin care products. While I am not too fussed on these products themselves, growing the base of pharmacy customers is a slow but important step in commercialisation. To be building these customer relationships and increasing our footprint in the pharmacy space now will serve us well in the future.
With today's MC being a mere fraction of most of the other companies in this space, (some with neither licencing, existing revenue or pharmacy presence), I see plenty of room for the market cap to move significantly.
BDA Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
