RE: Schurter21 Oct 2024 13:48
Agree re the "good set of results" but unsure on the placing. Co. was quite well set up after the last raise having paid most costs expected down the line (see below) and that was before the latest contract with most of its funds expected this coming year.
If they're tight they may well arrange a loan to finance, aren't they debt free and growing well?
"As previously stated, the proceeds from the fundraise are being used to improve the Company's financial position and provide working capital for investment. Key areas for investment include the continued expansion of the sales representative and distribution network, and working capital for the market introduction of the new DMH and SMD products. The vast bulk of the development costs of the latter has already been incurred, although some final commissioning of the DMH production line remains. An initial pre-series batch of fully functional DMH product is currently under lab evaluation and SMD testing remains on track. In addition, the Company expects to announce further patents during the next three months.
The Board considers that, apart from the final settlement of legal costs associated with the Maxwell/Tesla litigation, which it does not consider material, the only remaining payments for legal costs will be normal ongoing corporate legal expenses, including, for example, those associated with applications for patents.
In addition, the Company has implemented a comprehensive cost reduction program, which has delivered annualised operating cost savings in excess of US$0.5 million, and is expected to ensure that CAP-XX successfully overcomes its recent challenging phase"
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