Hi Dave,
Are you ready?
Cash August 31/2002 - 222,000 US
Cash raised Nov 01 - 1,250,000 Cdn or about 785,000 US
Cash raised Nov 30 - $638,570 - 500,000 = 138,570 US
Calculation of cash burn rate:
(note the company mentioned about $1.2 million a month
Cdn back in Oct I believe)
From Aug 31/02 financials in US dollars:
Net loss: 2,941
Amortization of patents: 797
Simplest cash burn estimate 2,144 for the Q or 715/month.
Cash needed for operations Sept 01 - Jan 01 = 2,860 US
Cash during period = 1,146 US
Cash apparently not visible for period = 1,714 US
Possibilities:
Italy
Luxembourg (ggg)
Austria
Finland
belt tightening (200k?)
How about those leafs.
Wolf |
