Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-4

Long time no post, I still hold (a lot). Hate to say it, but unless a partnership comes soon there might be a cap raise in a tight environment. Don’t jump down my throat. Having watched MSB for years now, our CEO does not like to have less than a year’s cash runway on hand and, historically, the extra cash available through loan facilities have not factored into that 12 month buffer. I’m hoping for another source of cash injection like everyone else, but realistically even if GvHD gets approved tomorrow, it will take sometime to scale up and that cash runway will be a close shave.