So it's safe to say they're ending 2014 NEAR CASH BROKE, whooo hooo. As they never successfully placed or sold the ole $60 million (which it won't be anywhere near to netting um $60 million, IMO) ole secondary they were pitching.
Thus, they start 2015 CASH LOW and with nowhere near the money needed to fund even the start, the down payment, on a serious phase II trial, let alone 2 or more phase I/II trials. Whoooo hoooo.
So it's just another OCAT, giant block of uncertainty; aka par for their 15 plus year course.
They begin 2015 as an OTC traded stock, with $7.x million in the bank against just short term expenses exceeding $3 or $4 million (see latest 10-Q accounts payable and expense line entries) expenses and a cash burn rate that will consume that $7.x mil in about a cool month. Whooo hoooo. Looking good.
Brilliant way, IMO, to close out your "big year" after all the PR fluff n hype. Main message, end of year: we're ON HOLD and loaded with UNCERTAINTY and the "plan" did not execute as originally stated.
Whoooo hoooo. Great. Nice. Fantastic.
