Aug 06, 2024 / 01:00AM GMT
Brent MacGregor - Medical Developments International Ltd - Chief Executive Officer
Thank you, and thanks, everyone, for coming on the call this morning. Why don't we jump right into it. Before we start really in full, there's a couple of points I want to make, but let me make them with slide 5 as a backdrop. So this is a modest raise that we're seeking. It's $10 million and will provide us with capacity to invest in some very targeted initiatives that we believe will accelerate our growth as well as to shore up the balance sheet as we reach operating cash flow positivity by the end of FY25, which has been our objective and continues to be our objective.
So ahead of seeking this funding, we have done a lot of work internally or what we like to term self-help. We've reduced costs, we've paused Investment Act in activities that have a longer runway to delivering returns, such as the US, and we have re-examined our commercial approach. We're very focused on delivering positive cash flows, and we are more financially disciplined. And our results in FY24 clearly illustrate the work that we've done in
Medical Developments International Ltd Investor Call Transcript
Aug 06, 2024
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