The chairman has identified in his previous interview that the...

The chairman has identified in his previous interview that the biggest problem for the company was its lack of capital and for this reason capital raisings are a necessary evil.

Without them the company has insufficient capital to pay its debts, train staff etc.

On the 1st April we held $786,000 with budgeted expenditure for June of $806,000.00. This would mean at the end of June we were pretty well penniless.

The capital raising of $1.5m should cover us for two quarters, before another is needed.

But what we do not know is how much income the company will generate from its sales. In the March quarter it was only $18,000.00, but I would hope this figure would grow significantly going forward to defer the need for the next capital raise.