Brief: GeoOp Ltd Says H2 Monthly Cash Burn Seen At About NZ$70,000

Geo

30/04/2020 21:43

May 1 (Reuters) - GeoOp Ltd  GEO.NZ :
    * MONTHLY CASH BURN FOR H2 SEEN AT ABOUT NZ$70,000,
INCLUDING
ONE-OFF COST REDUCTION EXPENSE
    * MONTHLY CASH BURN SEEN TO REDUCE TO LESS THAN NZ$50,000 IN
H1
FY21
    * RECONFIRMS CASH RESERVES FORECAST TO FUND OPERATIONS
THROUGH
CALENDAR YEAR END OR BEYOND
    * WHEN CONDITIONS NORMALISE, EXPECTS TO REINSTATE SALARIES &
MARKETING
    * ROCHELLE LEWIS HAS RESIGNED AS CFO
    * PETER HYND TO TAKE ON CFO ROLE ON A CONTRACT BASIS

Source text for Eikon:  ID:nNZSwzda 
Further company coverage:  GEO.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))