Not here much at all, but will come back with material news.
If the net cash used in operating activities annually,is 3,803,894 according to the most recent audited annual financials on SEDAR and the cash on hand is 1,294,346 , and according to the recent PR: “the insider led first tranche of its previously announced non-brokered private placement of unsecured convertible debentures (“Debentures”) for gross proceeds of $941,000.”
So rounding up, given total cash reserves of approximately 2.3 million,(as of year end and adding forward) the cash on hand would be running thin by the end of the summer.
Will be interested to see what happens with the financing, given that the initial portion was only met by insiders, and they just extended it.
At some point, the company needs to generate its own revenue, instead of relying on financing.
If there was ever a time for Sales, now is it.
Like I said, I follow the numbers, so that’s why I’m interested now. Good luck to those who follow the story, and I do hope that some sales start to materialize, and that those sales actually get approved, and the money finds its way to the companyvault.
'All IMO
For education (mine) and entertainment only.
Dont invest based on what you read here.