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| A number of posters have been speculating about when Zen will run out of cash if they don't obtain financing.
Here is my take;
(all amounts are taken directly from ZEN's financial statements)
Zen reported that they had $1,366,000 in Current assets as of Sep 30, 2015
ZEN Received $90,000 from Mustapic exercising his options in the 4th quarter
Zen reported that they had $887,000 in Current assets as of Dec 31, 2015
So in 3 months (Oct, Nov, Dec 2015) they spent approx $488,000 + $90,000 From Mustapic = $578,000
That is approx $193,000 per month.
Assuming a constant burn rate, the $887,000 reported as of Dec 31, 2015 would last about 4.6 months.
ie: - until about the middle of May.
It is worth noting that ZEN had more than just normal operating costs in the first quarter of 2016.
Cash was also spent on a trip to Japan and Registration/Accommodation/Entertainment at PDAC.
So even if they are frugal, I don't see the $887,000 lasting beyond mid-May
Using the above burn rate, ZEN is down to about $300,000 in current assets as of today. |
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