Share price can absolutely retrace back to .001c regardless of fundamentals as it has done so previously.
Prior to the FDA approval received in July 2023, the share price was sitting at .001c with similar annual services revenue being received. Market cap is based on share price to outstanding stock. The cash on hand has a fundamental support to market sentiment but doesn't affect the market cap. If market sentiment is that negative, then the market can sell off its position and the SP will retrace. It just means the company has cash on hand and a low share price.
June 2023 LDX had a market cap of $4Million based on 463M shares outstanding and a share price of .009c. In the quarterly report prior to FDA approval, they had $4.3MillionUSD cash on hand. Also had the convertible note debt as well.
The only benefits here currently supporting an unlikelihood of a retrace to .01c is that the company has the Hologic IP deal with future revenue and potential, the US market is now in play (obviously wasn't before hand) as well as other geographic locations for Febridx and no debt. This should hopefully hold the SP well above the .01c mark, but no one can guarantee that will happen.
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