Highlights for the quarter ended 30 June 2018
Worldwide net revenue of US$2.0 million, an increase of 13% over the first quarter of 2018, driven by U.S. sales growth of 13% with continued strong average selling prices
New President & CEO, Frank Grillo onboard
Restructured sales force including new VP of Sales
Reduced headcount from 128 employees to 80 employees
Net operating cash burn reduced by 20% to US$7 million
Cash and short-term investments balance as of 30 June 2018 of US$6.5 million
No wonder they need a hail-mary CR.
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