Nice pump. My hat is off to anyone who can manipulate a 4x run...

Nice pump. My hat is off to anyone who can manipulate a 4x run on a worthless company.

They got their $1.5M of research rebate a while ago, and have likely spent most of it. All that means is that, last year, they spent a lot of money on activities loosely defined as R&D or "supporting R&D" and filled out a form.

As of 30 September, they had $387K in the bank (that's after getting their $1.5M). On average they've incinerated about $625K per quarter (averaging across 2023 and 2023 full years) so they're probably nearly out of cash. But yeah, "below cash backing". Oh yeah, "competitors worth billions" is a good one too.