In addition to what everyone else has said, there's that $1m in corporate and administration costs which is huge. That's what contributed most to cash burn. Not entirely sure what it was for, but my little brain is guessing it has something to do with expansion into Australia and Asia.
Cash burn should be significantly less next quarter as these are likely once off expenses. Would be nice to have more frequent announcements to get the market excited. It's almost like they only announce when they are forced to. It's a boring stock. Get the market excited! (And hire a goddam graphic designer for your apps)
Bought some more yesterday. Let's see how we go.
VLT Price at posting:
3.0¢ Sentiment: None Disclosure: Held