Source - SMW
Pallet provider RM2 International said it expected to have sufficient cash to continue operating through the third week of February.

The date, however, could vary depending on the outcome of discussions with third parties, including manufacturing partners and alternative providers of financing.

RM2 said it had received "positive feedback" from trials undertaken by a number of potential customers in North America over the last few months and was in discussions with several Fortune 500 customers who had expressed an interest in its pallets.

"Notably, a leader in a North American specialty food sector has agreed to roll out ELIoT pallets in their supply chain subject to the pallet meeting KPIs throughout the implementation," the company said.

"The company continues to advance its discussions with potential funding partners and customers in order to progress the business," it added.

RM2's unrestricted cash position at 31 December 2017 was $4.1m.  After one-off costs and production expenses in January 2018, it expected its cash balance at the end of January to be approximately $2.0m. Its monthly cash burn rate, excluding production costs and one-off costs, and reflecting cost-cutting measures implemented to date, was approximately $1.2m.


At 8:10am: (LON:RM2) RM2 International SA share price was -0.38p at 1.25p