Rent.com.au Ltd(ASX: RNT) fell 2.6% to $0.185, and shares now trade below their issue price despite recent strong progress towards the company’s goals of lifting website views and growing the number of listings. Rent.com.au is now the 7th largest property website in Australia, according to AC Nielsen’s national rankings. However, it seems shareholders are concerned about the company’s cash flows, which are not good. Despite recently raising $3.7m in capital, Rent.com.au appears to have around 9 months of operations remaining at its most recent cash burn rate, suggesting another capital raising is just around the corner.
