"As you can see yourself, compared to its own history of cash holdings, $75 million is far from being adequate for MSB."
@travelightor,
Be careful to not make the same financial faux pas that many others make by assuming that the total cash balance is available for use by the company.
For the auditors to be able to sign off on going concern considerations, the company needs to always have a certain amount of cash reserve on hand, typically to cover current liabilities (at the very least). In MSB's case, this figure comes to around $25m, so really, on a going concern basis, the cash at its disposal is really closer to $50.m.
Of course, this will be boosted by the cash coming in from the Japanese sales, and of that, we will get our first peek over the next 48 hours.
And then, I hate to be a pedant, but in terms of your "MSB share price is the lowest in 5 years, making it even harder to raise cash in a capital efficient way"; actually, its closer to 7 years (share price last at current level in October 2009).
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Price($) | Vol. | No. |
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