$18.6 million and they only expect it to last less than 3 quarters haha. Fairly sure that's not taking into the account immediate payments due once they acquire Halucenex which is $500,000 up front, $250,000 loan prior to settlement, another $1,000,000 in funding to Halucenex within 12 months following settlement, which I'd say will get paid very fast for all the continued R&D they have been planning.
And I'm sure prior to the 3 quarters are up, they will find more ways to spend the money faster - be it additional business acquisitions or ramp up their ridiculous marketing campaign with 4 fluff announcements per week + paying websites to report those fluff announcements week in, week out like they have been doing.
Also don't forget once they acquire Halucenex they also issue over 29,000,000 shares to them further diluting the share price once the transaction is finalised plus 17,500,000 performance shares to come shortly thereafter.
Tell me again how $18.6 million is a lot of money here? Sorry to break it to you but there is no re-rate coming anytime soon.
I would love to be wrong, but doubtful.
CPH Price at posting:
18.0¢ Sentiment: Sell Disclosure: Held
