the problem is the product is being sold in NZ since approval was granted but in EU they have approval for over a year ago but zero sale is the issue and company is not honest based on how they removed past CEO without reason, then in Jan/Feb shareholders meeting they openly said that they have submitted all documents to TGA with answers to previous query and they are waiting for approval but in six month they decided to withdraw without giving any reason (scientific or logical).
on top of all this they have been talking about FDA application but god knows if they will do it or give another hypothetical scenario for not doing it..
now, they don't have much fund left to continue at current cash burn rate so expecting $2m is miracle which is hard to achieve before CR ... IMO.... and the way share price performing the CR at this rate will significantly dilute shareholders value...IMO.
OSL Price at posting:
5.0¢ Sentiment: None Disclosure: Held
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