Nice half yearly report, yep just like clockwork..
All as expected add another roughly 400k on the chip stack with the R&D rebate for the next 6 months...
Not expecting a capital raise anytime soon with 5.8 mil in the bank ( more likely to be around 5.1 million dollars at present)
With cash burn sitting at around 1.5 million per quarter, ( this used to be around 800k per quarter before I left) due to study costs and refinement of the app for the period etc the quarterly costs have increased.. Thankfully that last capital raise a couple of years back at 20 cents has paid off and kept Resapp in a strong financial position for at least another year..
@AlCp is correct - if the study is successful this time around there is a chance of a capital raise BUT much higher then the current share price, towards the end of the year. Our company will still have to lodge to the FDA and wait for clearance by the FDA before we can actually sell the product to anyone..
Upon completion of the study there is a high chance we will sign binding MOU's with estimated minimum cash values to the many telehealth companies and any other interested parties who are lined up in anticipation for good results on the basis we achieve FDA clearance..
In the meantime our company is working on building numbers for the double blinded study in Australia for submission to the TGA & CE respectively. There is a high likelihood that if our company achieves good results in the new study in Australia then we would most likely obtain these clearances prior to FDA clearance. This in turn will see deals flow through Europe and Australia generating cash flow prior to FDA this will then potentially lead no capital raise..
All in my opinion, exciting times for Resapp
Cheers
Red bar