To those claiming that Norwood didn't need to raise and could see this year out.
The company had $466k in the bank on September 30 with plans to spend $875k this quarter.
You were, as usual, completely wrong. The result was obvious and predictable to most. You can make your apology now.
At $875 spend, that's $300k per month. Or roughly 1.5 months off cash left. Norwood actually underestimated their cash spend by $160 last quarter. So much for cost savings.
As of today Norwood has around two weeks of cash left. Three if you give them $70k in revenues.
Unless they are doing severe cost cutting, cost shifting or going to draw down on another R&D loan I don't know how they are going to survive until the end of the month for the CR to finish.
Are any holders concerned here? 59k in revenue. With WV supposed to be doing well? The rest of the quarterly was the same old tripe.
