They made a loss of $447K for the quarter and now have $1mil left in the bank.
They are forecasting cash outflows of $300K for the next quarter so if they stick to that they have 3 quarters left or 9 months at best before it's close the doors. There only saviour will be a cap raise capital but that could be a struggle after what's transpired over the last 6months.
I would value the company at cash backing which is $1mil - a discount as the cash is steadily decreasing everyday. At a market cap of $1mil that would equal a share price of less than .00029. So basically, now you can't even sell at any price and realize what I believe is fair value.
PDY Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
