Cash for nearly 2 years? How so? They have receipts of approx $1m per year. Placement of $6m. Cash $1m. Options conversion $4m. Total $12m. Cash burn $3m/quarter and rising.
That's enough for 9 months. They'll need to raise cash before they run out and this time they won't have the options conversion to buy them more time. So likely in 6-7 months they need to start looking.
Situation is entirely grim. 11c and looking like it could break that magical 10c mark over the next month or two. No cash, no sales.
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