At 2.4c the market cap of $35m is way too high. Cash may be around $30m but let’s say half will walk out the door in salaries, bonuses and admin expenses over the next year or two. Then allow for a partial small scale trial and you are outta money. I would suggest that they don’t have funds for a large scale complex, multi jurisdiction trial. So you tell me, what’s this pile of rubble worth if a trial produces a big fat zero like all trials past for this company? If you think it looks cheap, just remember the old adge - “Don’t try and catch a falling knife!” DDD
BNO Price at posting:
2.4¢ Sentiment: Sell Disclosure: Not Held
