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Originally Posted by percy
That $2 mil will not go very far.
They will need a great deal more capital within 6 months.
Perhaps that is why the ASX listing.?
They had $4.4 million in bank 30 Sept. forecasting $2.6 million cash burn this year.
The company is pretty clear what they plan to do with the extra funds from the capital raise.
Investment in team capabilities for $200,000 business expansion
Establish device manufacturing in $300,000 China for Chinese operations
Reduce the cost of the product via $300,000 R&D initiatives
Market development through market $200,000 access/medical affairs capability
Costs associated with the offer $300,000 and dual listing
General working capital $200,000
Total $1,500,000
I would think they have enough funds to get them through the next 6 months. The Pitt Strret report put out with the announcement notes a require for further capital.
– Funding. Post TRU’s raise of NZ$5.2M in FY21, our modelling assumes a further equity raise of NZ$3M at NZ$0.09 per share, after which we expect TRU will have sufficient liquidity to sustainably fund its operations going forward.
After raising this $1.5 - $2 million with the ASX listing they will hopefully be in a strong cash position for the next 18-24 months. It will be interesting to see how supported this share is on the ASX. If they continue achieving there goals then times ahead could be great.
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