Extraordinary destruction of shareholder value. The company has a market cap now of around $9 million and they are hoping to raise around $4.5 million in this latest capital raise which on historical basis they will burn through very quickly.
The fundamental problem is that none of the generic products launched so far have managed to raise significant revenue. The astronomical numbers in the presentations suggesting billions of dollars in opportunity mean nothing. What matters is generating enough revenue to make the company profitable - it is mind boggling that in their last quarterly cash flow report the total revenue raised was $13,000.
The company needs to urgently fix poor execution of product launches but do they have any idea how to do this?
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