.0121 right out of the gate. WOW !
Another new 8 or 9 month low bid on a day the markets are on fire.
This is total free-fall IMO. The markets are on fire and this thing is still dropping like a hot rock. No bid support or even a bump appears to be in sight anywhere.
Awfully close to 1 cent now. Market cap is getting shaved down daily and their ability to use the dilution financing gets worse with everyday the price drops lower. They gotta be really, really tight for cash at this point, IMO.
Really, really looking weak here. Now it appears the Magna "credit line" deal is delayed and has not become active yet per the recent SEC S-1/A filing, so they must be looking for cash somewhere? That Magna $200K note only lasts a little over a month or so given their cash burn rate and high debts and just immediate bills they showed like over $2 million in accounts payable as of last 10-Q filing.
How long can they survive in this mode I wonder? I mean what costs can they cut when you only have 4 full time and 1 part time employee and work from a leased, very small facility already?? Also, they got these recent law suits and appear to be hiring/retaining big law firm types, that can't be cheap either.
I'd find it hard to believe, IMO, that they're spending anything on so called "trials" or even conducting any actual medical research or "trials" at this point- the total R&D spending last 10-Q was already down to $3K a month total, and they appear in worse financial shape now probably. What exactly is their actual "business" they're in then, if they don't run phase II/III trials and similar as their twitter feed and other PR "claim"?? I really wonder at this point? I mean what do they actually do all day as a "business" and for these large salaries and bonuses collected by just 2 people- when they seem to have little to no cash and no ability or even desire to direct money to actual trials and medical R&D which is their stated business per their own SEC filings?
Makes zero sense to me anymore. None.
