Ann: Investor Presentation March 2024 Quarterly Update, page-32

I’d say within the next three months (if not sooner) seems likely to me.

Their cash position went from $69.8M to $34.7M in a single quarter. In early April they paid another $4.8M in state royalties. They still have $13.5M of historical royalties owing which they’re paying in monthly instalments up to November. On page 6 under ‘short term liquidity’ they make it clear they are “actively considering working capital financing options to improve cash management and provide balance sheet liquidity”. Considering the large amount of debt the company is already carrying, what else is there except another capital raise?