As of the last quarterly the company had $4.2mil in the bank(31st Dec 2012) and the current quarter will burn through $3.2mil. Which leaves the cash projection level at $1mil at the end of March.
Its safe to say that a deal needs to happen in the next 5 weeks otherwise we are up for another cap raising.
After the announcement earlier in the week I don't think we are near a deal, looked very amateurish.
So Shaws and Blue Ocean to the rescue, they subscribe to discounted shares and then offload them for a quick profit......everyone wonders why this stock can't get any traction.
Despite everyones complaints the CEO and board will keep doing the same thing over and over again. I hope i'm proven wrong, its a very frustrating stock to hold right now, despite the potential.
current state
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