1. Accounts Receivable is at $3MM which is higher than last quarter. Shows they are getting steady customer revenue each quarter.
2. They mentioned revenue from 4 clients instead of 3. Who is the 4th?
3. Cash burn and loss per share dramatically down YoY.
4. They received revenue from shipping units for clinical trials.
5. UNS’s Insurance paid out $5MM to settle investor law suits. Overall they seem to be cleaning up the mess quite well. Still have the $4MM automation lawsuit outstanding and possibly a $10MM refund of deferred revenue owing due to PFS termination.
6. Management believes that their efforts to raise additional capital should allow them to be funded for at least 12 months. Hopefully they can get through commercialization.
7. They paid Amgen $2.3 Million in discounts on customization and development fees during the 2nd Q.
