I've been calling a May to June CR since February. Main reasons are cash burn and no significant revenue.
However, there is probably 3 months cash in the kitty + about $1.5M coming in R&D. Secret to a CR is not to raise when you have ZERO money. This is why I think the CR will be at 3.5c.
I give management a pat on the back for calling it now instead of in October when there is $2 in the bank, and the CR would have been under 2c
NOR Price at posting:
3.9¢ Sentiment: None Disclosure: Not Held
