Well I hope you sack your broker next May, because on my numbers that's about the point they will be insolvent.
They had $200k in the bank at the end of Sept and I assume have survived off the Tax Rebate of $1.4 up until now.
They are burning about $2mil a Quarter and don't have a lot of saleable inventory to speak of.
$3.9mil raised, $300k owed for the exercise. So they have $3.6mil left.
What makes this so dire is that the retail support was so minimal it seems almost impossible for them to survive beyond June without something big happening. A total Hail Mary. Selling 1,000 units through Walmart won't be enough because the margins aren't significant enough. That will get them through to June instead of May.
They need an OEM deal with upfront payment or its lights out. I really can't see them moving more than 1000 units over the next 6 months.
Nuheara management thank you for your donation, make sure to holdtight.
NUH Price at posting:
13.0¢ Sentiment: Sell Disclosure: Not Held
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