Haven’t checked in for a while. Sitting on small holding that is not worth selling at these levels. Not sure about the future here. Where do you all see this going?
SEP23 RECEIPTS: $9.0M, EXPENSES: $16.6M, BURNING: $7.6M, CASH: $33.7M.
JUN23 RECEIPTS: $10.2M, EXPENSES: $19.5M, BURNING: $8.5M, CASH: $32.9M.
MAR23 RECEIPTS: $8.1M, EXPENSES: $24.1M, BURNING: $16.0M, CASH: $40.1M.
DEC22 RECEIPTS: $8.3M, EXPENSES: $25.4M, BURNING: $17.0M, CASH: $56.7M.
SEP22 RECEIPTS: $9.5M, EXPENSES: $20.0M, BURNING: $10.2M, CASH: $73.8M.
JUN22 RECEIPTS: $6.7M, EXPENSES: $19.5M, BURNING: $12.8M, CASH: $84.3M.
MAR22 RECEIPTS: $8.5M, EXPENSES: $18.7M, BURNING: $10.2M, CASH: $97.4M.
DEC21 RECEIPTS: $5.6M, EXPENSES: $20.6M, BURNING: $15.0M, CASH: $108.4M.
Receipts haven’t moved much in 18 months.
Certainly the expenses and the burning have reduced with all the layoffs, but the product manufacturing and operation costs seem very high. They have almost mirrored the customer receipts since the get-go.
It looks like they have 3 or 4 quarters left unless they plan on raising $10M every quarter. Maybe this is the monthly release of ‘moments’ they referred to, a cap raise moments every quarter?
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