but on the cash note, they need a payment & something larger than the $500K norm they've been recieving to keep a CR distanced.
Last Quarter they burned $1.96M & left them with $3.25M as of the end of Quarter if this period has utilised the same type of expenditure then they are fast approaching only $1.2M in the kitty within 5 weeks which means sig payment soon or it's time to rattle the can. Even if you take the 2nd Quarters expenditure into account the mid point only makes a $350K difference in cash position on assumption.
I guess hence the 2012/2013 cash sustainability call now as it is highly unlikely they wont need to raise in the future without a black swan appearing.
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PYC Price at posting:
5.7¢ Sentiment: None Disclosure: Held
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