IMO, the CR will be for sophs for about $2 mil @ 30c to cover the launch & the ICI deal.
The Dec quarterly said:
Cash: ......................................................$2.357 mil
Outgoings for Mar Qtr: ...............................$550K
Therefore cash at 31st mar should be... $1.807 mil !
IMO, EM1 could have waited until the launch & telco deals are set before the CR because it would mean less dilution.
Ann: Trading Halt, page-27
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