From the conference call:
The warrants for about 10 million shares were execized after the end of the quarter. They now have about 3.5 million cash on hand. It was pointed out that they did receive a cash receivable of about half a million in the last couple of days.
They did talk about being cash flow positive within six months.
It sounded like landing some gov’t contracts will occur in the Sept-Oct timeframe.
Also talks with 2 of the 3 largest telecommunications companies are ongoing. Also talks with 2 $50 billion biomedicals are ongoing.
Average deal is about $175,000 ranging from $3million to $1,000. Total pipeline is about $300 million. about 3/4 of it could realistically be converted into sales.
The $3 million of prepaid expenses/licenses obtained from sales will be expensed as used up in coming quarters.
Revenue guidance for 2014 was raised from $8 million to $12 million.
Z-Bar