Yes, thats the really scary bit and lets be very clear about it....

Yes, thats the really scary bit and lets be very clear about it. This report is as of Sept 30, ie almost a month ago, and as of that date they clearly stated that the cash they have currently will only last for 0.65 quarters, ie 58 days. We are already 24 days into the next quarter so its now down to 34 days of cash left.




When the company's finances are counted in days its time to start paying attention. They are on their knees. As per their own previous statements this is not a good place to be if there is any chance of entering a negotiation. This isn't the lottery, its business. Shareholders need to ask the question, "Is it in my best interests for management to run the company into such a precarious financial position at this critical time?".

At this point it s nice to hear good stories about what might happen in the future but what matters the most is making sure there is a future and your equity is preserved and not handed to some other investor on the cheap.

There is no apparent good reason not to have done the CR months ago. Now if they have to negotiate a last minute placement, ie in the next couple of weeks, their backs are against the wall. The more desperate the bigger the discount but who loses out? management, the sophs? Nope, its the person in the mirror.