RE: Placing stung us again5 Sep 2018 19:49
Based on the Company’s current cash flow forecasts, the Company anticipates that its existing working capital (excluding any proceeds of the Placing) will be depleted at the end of September 2018, and that at such time, it will need to raise additional capital in order to continue its operations. The Company anticipates that it will be required to raise an additional $5.3 million (including the net proceeds of approximately USD 3,373,000 from the Placing) of capital in order to have sufficient working capital for the period of 12 months from the date of this Prospectus. The Company anticipates the shortfall in working capital will be covered by a further equity raise to be completed in or prior to April 2019, as necessary......