Anavex Life Sciences Corp (AVXL)

[Investor2014]

Sandra Boenisch

Thank you Christopher. Good afternoon. Our cash resources at June 30, 2018, were $25.8 million. Our working capital is $23.5 million and we have no debt. We believe we are sufficiently capitalized to fund our objectives to the next 24 months given the support we received from the Australian Government and other partners.

In reply to Jason Kolbert's question, Missling said:

And the second one is for Alzheimer’s disease, which is a grant from the government in Australia where we will be able to get a cash back on about 40% of the expenses incurred in Australia. So that is what is possibly to model into the financial model

And here what you missed quoting from the 10Q

Note 3	Other Income 
  
 Research and development tax incentive 
  
 During the three and nine months ended June 30, 2018, the Company received other income of $1,629,513 and $1,629,513, respectively (2017: $Nil and $2,022,902, respectively) in respect of a research and development incentive program offered by the Australian government.

$2M for the ongoing P2a trial one must assume. These grants will continue for the P2b/3 trial and as they are based on 43% of expenses that will cover several million dollars.

Finally, Anavex have a $50M facility through Cantor to draw on.

PS! I can see how your DD could have failed in chosing Neuren and MBOT investments.