Good morning back in Australia, hope you all had a positive "Australia Day" yesterday and reflected on what we have
achieved as a country, despite all the moaning, disrespectful, self-centred "me, me, me brigade".......Lives Matter....move on.
Anyway, where was I....oh yes, the 4C.
I had thought an improvement was on the cards, but nothing major...obviously we are still walking that tightrope, more patience needed then.
Looking at the figures, you may have noticed a couple of things,
A foreign exchange loss in the 4th quarter of 1.892 Million giving us an annualised loss of 981,000 meaning we were up 911,000 at the end
of the 3rd quarter, so that reflects in the overall scheme of things before you get too negative.
On a more positive note, we closed with 20 Million USD and since then we have positioned ourselves for another 12.5 Million USD
through our recent 4th amendment with LDA Capital....so in effect, cash of 32.5 Million USD which on current cash burn would give us
a runway of basically 2 years (with no revenue)....lots of balls in the air (so to speak)....I personally remain very positive and would suggest
if you have spare cash, just buy on the dips (think positive instead of the other) !
Cheers..........Tech.