Cash burn approx $725K per quarter. All being equal, should have enough to take company through to end of first quarter 2020 F.Y.
Fat cheque for R&D due after lodgement of tax return (Oct ?)
Pitt Street just had to fill in a gap to arrive at a valuation, so they just would have used current share price to cover their R's
(.019 less 20% discount). Omitting the time frame for when the $7.5M was required was seriously lacking.
Lots of water to pass under bridge through this period.
Investor Update, page-286
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