"Advancing the development of a fully implantable system by...

"Advancing the development of a fully implantable system by conducting an acute first-in-man study in 2016 that measures neuromodulation effects"

Very good, as it was pushed out to 2017, now back to 2016


"Expect to submit clinical protocol for a short-term study of CP-1 to the FDA by the end of Q3"

Good, we have a timeline and a goal, 3 months earlier also good instead of by years end.


"Meaningful progress on reducing operating cash-burn in Q1; down 35% from Q1 a year ago. Ended Q1 with $16.5 million in cash, $7.1 million in borrowings."

Good, gives us more time and shows they serious.


"management continues to expect to raise capital in 2016"

This is our only issue, how do they plan to raise capital, dilute the crap out of us, or able to raise capital without hurting current shareholders to bad, Well they have 6 months to figure it out, hopefully a partnershisp or loan or some other funding.

Me personally I like this update much better than the previous one, as my opinions stated above.
See if the CC sheds more light.