I am indeed talking BUL. Cash burn 3.3M per quarter, cash reserve now 10M. And the 3.3M for the quarter was low by recent standards (normally over 5M). Hence it is a race to get to an end-point before the cash runs out, or have another raising. Although the recent 8M raising bought some more time it further diluted the rest of us.
I am not denying there is potential, just pointing out a major impediment that management have to work around. If the reserves can be brought on within the next 6 months they will get the funding. If they can't then more raisings will be required, and if that has to be done with a low share price then the dilution begets a lower share price - and that particular cycle does not often end well.
BUL Price at posting:
8.5¢ Sentiment: Hold Disclosure: Held
