Burn rates are dropping but positive cashflow is still proving elusive in many parts of the dot-com sector.
The latest batch of cashflow figures lodged by tech companies yesterday show the move away from rapid cash burn continues within the sector, however, black spots remain.
Sitting pretty for the time being are five companies with over $15 million in the bank, including ecorp, LookSmart, Wine Planet, Open Telecommunications and Melbourne IT.
Two of those, ecorp and Melbourne IT, are cashflow posititive.
Other companies which sport black figures in their ledgers include Investor Web, Positive Technologies Clarity International and Smart Communications.
Those with less cash in the bank than they burnt in the last quarter include Reckon Software, Sanity.com and PocketMail Group.
Winepros reported a net operating result of $2.2 million dollars over the last quarter, against only $30,000 in customer receipts. Reports suggest that much of the outlay went towards the development of its international Web sites.
No need to hit the panic button just yet though because the company still has $10.3 million in the bank, and its chief is publicly confident the company will be cashflow positive by 2003.
Its category competitor Wine Planet is looking much healthier, with over $30 million in the bank and a net operating result only $161,000 shy of the line ball.
At the other end of the spectrum, software company Open Telecommunications brandished a statement indicating it was cashflow positive to the tune of $2.3 million. The result was influenced primarily by its contract to supply software to COMindico, as well as a collection of some $27.2 million in customer receipts.