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I think they have more than 30 days

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DVP25   Monday, 01/25/21 03:23:26 PM
Re: Prime39 post# 1016
Post # of 1092 
I think they have more than 30 days cash at this point. The way I see it, the Kanepi pymt in Oct pretty much emptied the coffers. Since then they've raised $6.1M USD ($7.8 CAD) via the bond offering and at least C$3M in pull-forward (according to McMeekin on CC). So that's a total of approx C$10.8M.

I think it's reasonable to expect that the cash burn was reduced to C$5M in Q4 and that they could potentially cut that to about C$4M in Q1, so I think they prob have enough cash to make it through March. And if they are able to pull-forward another C$2M or so plus another tranche of bonds for approx $C2M, then they would probably be good thru June. I think that's being fairly conservative, but who knows, I could be missing something.

The big risk, of course, is will they be able to get cash flow positive by that point. IMO, the success of the heat exchanger program is a key factor in that. It's the #1 thing I want to hear about from the co. Remember the potential market size with just their existing customers and the "10x" building revenues? Well, it's about time we get an update on how that's going.

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