The model doesn't work does it?
They have a test that is only available by cash paying customers, its more expensive than comparable tests in the market place and the recent acquisition of the UK business has no scale and is not delivering on the prior capital raise plan. There has been no accountability to this.
They need a partner who can actually take the majority of costs out of the business but still drive the business mode.
Sonic is probably best to just sit on their hands and then eat this up at their intangible valuation of about $7m. But the question is why would you when you are a beast of a business.
Looks like a major dilution coming in which based on their current cash burn could be a 50% dilution.
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