Go figure......
The company has $17.6m in debt.
Cash at the end of September was $9.4m
Net cash was there fore negative $8.2m.
BNO will bill burn another $3m in the next quarter.
The company has a market capitalisation of $50m.
The "enterprise value" is therefore $58.2m
If BNO was an explorer, its cash burn rate and net debt position would have investors rushing the exits.
Does anyone seriously believe that there is not going to be a capital raising?
How do investors think that this company is actually going to pay for the mooted BNC 210 clinical trial?
I agree with Bioshares - avoid.
....but you knew that.
Good luck holders.
Cheers,
DDD
Go figure......The company has $17.6m in debt.Cash at the end of...
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