Could that cover the legal expenses also, i wonder?
The estimated staff costs for next Q are ~$250k lower.
Directors portion of cash burn is quite low at $24k.
In regards to the CR
"Accrued revenues, being shipped and invoiced product not paid before 30 June
2018 and purchase orders received total $1.18m."
"With inventory levels at approximately $1,200,000 with the view of converting a good portion of this to cash in the short term. In addition, a manufacturing debt facility is also being negotiated and is anticipated to be in place on receipt of any forthcoming significant purchase order out of the USA or Australia."
It's puzzling to me. Are they negotiating the debt facility? I don't think that would require a TH/suspension.
In the case of a big ol dirty CR to shareholders would it require the drawn out suspension? Never seen it happen this way.
Guess all will be revealed, but in any case, they claim to have a couple of avenues of significant incoming cash, so would it need to be a huge raise?
CIO Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held