IMR – Imricor Medical Systems
According to its Appendix 4C lodged recently, the $148 million Imricor had a miserly $US5 million ($7.5 million) cash balance at the end of December. It said the declining cash balance – Imricor was sitting on $US7.8 million cash and cash equivalents at the end of September – reflected “no consumable product sales revenue during 2019” due to delays in approvals for its MRI-compatible medical devices, which were expected to come through in the third quarter of last year.
The company said it had now received CE Mark approval for its flagship product, which allowed it to market and sell its products to clinical sites throughout the European Union.
The question is whether sales revenue can hit the company’s bank account before it burns through the remainder of its cash. It’s enough to have Imricor added to equity raising watchlists
