Hi All,
Well I finally found some time to see the webinar. Michael tried to gloss over the cash issue by talking about lumpy revenues and expenses and constant monitoring of the cash position. Looked a little less comfortable to me than when he was on his strength which is the topical generics market place of which he has a good knowledge.
The bottom line to me is that cash is an issue and the business seems vulnerable to a bad quarter or a delinquent debtor. While they done well enough with almost no spare cash for quite a while now, and I won’t be popular for saying this but in my view a placement or a CR would relieve pressure.
Even though I have lost a fortune on this business and I have put the the company logo on my very own dart board years ago, I think that it might eventually succeed despite all the years of little progress, poor choices and a tough environment. I certainly don’t want to see it go broke over a not raising a few million in a CR.
Michael was long and strong on his talking points of having a portfolio of products in generic markets that contribute to a an overall cashflow from the whole portfolio rather than having the huge explosion of revenue from a new drug - which of course carries huge development risks and costs. That is the Acrux story of course. But building up that stream of revenue has been too slow and painful.
As I said, in my view it’s touch and go at the moment.
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