It seems like31 Mar 2016 17:37
There all patting themselves on the back for cutting costs .
Check for yourselves how much they've burnt since the placing .
With the successful completion of a Placing and Open Offer in Q3 2015, the Company raised US$5.4 million through the issue of 3.9 billion shares. Net of fundraising expenses of US$1.2 million, the Company recognised net proceeds of US$4.3 million. The current cash position of the Company excluding any funds owed to the Company pursuant to the Al Maraam SPA and the outstanding Director loan, stands at approximately US$3.2 million.