Moodys, that was a good call back then! We are such an active message board that I truly can't recall specifics about a lot of the material posted here or who posted what... personally, my brain processes the present better than it recalls much of the past. I don't know if it is information overload that comes with the digital age, or if work/family/life/stress all hinder retention, but I used to remember anything that came in front of my eyes. Look no further than IITF's recent post on that patent. I truly felt bad about having forgotten that one! In retrospect, I must agree your $10M assessment should not have been glossed over that way either.
We really can't know how long that money will last because everything is subject to change, including their burn rate. The last couple quarters had more development work, potentially expensive stuff, and setting up with the training centers might have included some initial pre-payments, and they spent about $4.5M last quarter. If the bigger focus is now shifting more to the training centers, there may be some additional up front costs for development of some additional training materials (everything from Powerpoint presentations and documentation to simulators and training software) but I would not expect that development effort to be nearly as intense nor as expensive as development for the SPORT system and software... and I assume there is still some production software development going on as well. But to see the progress this team has made since the beginning of the year compared to what has been spent, these guys are working very efficiently! Think about a year ago and two years ago. Okay, I just hit SEDAR for numbers. Expenses, 6 months ending June 30, 2016, $20,658,367. Over $10M per quarter. Go back another year, $17,464,790 for 6 months ending June 30, 2015. $9M/quarter burn rate. Now we are spending half as much while meeting milestones. Everyone thinks the waiting for this stock to come around is excruciating, but think back a year when it came to a halt due to funding. Money may still be hard to come by, but the new team is kicking some ass in the operational efficiency department!
