Tuesday, August 16, 2016 9:36:36 PM
Looking through the recent 10-Q, here's where some of the 2016 funding has been coming from ($310 K, see below). Also, Drs. Lippa and Manuso each advanced the company $52 K back in Jan/Feb.
Hopefully they'll have a significant cash infusion as part of the R/S process, which is something you often see with reverse splits. After the R/S the authorized shares will be 70 mil and the shares outstanding will be roughly half that (including warrants and options), so that provides ample room to raise money. Cash is the lifeblood for all small biotechs, so let's get the money -
https://www.sec.gov/Archives/edgar/data/849636/000149315216012247/form10-q.htm
>>> On January 8, 2016, the Company initiated a new equity private placement, consisting of units of common stock and warrants, up to an aggregate of $2,500,000, with each unit consisting of (i) one share of common stock, and (ii) one warrant to purchase two additional shares of common stock. During the three months ended March 31, 2016, the Company entered into purchase agreements with five accredited and three non-accredited, non-affiliated investors, pursuant to which an aggregate of 8,775,250 shares of common stock and an aggregate of 17,550,500 warrants were sold, generating gross proceeds of $194,635. During the three months ended June 30, 2016, the Company entered into purchase agreements with four accredited and one non-accredited, non-affiliated investors, pursuant to which an aggregate of 5,200,633 shares of common stock and an aggregate of 10,401,263 warrants were sold, generating gross proceeds of $115,350. During the six months ended June 30, 2016, the Company entered into purchase agreements with nine accredited and four non-accredited, non-affiliated investors, pursuant to which an aggregate of 13,975,883 shares of common stock and an aggregate of 27,951,763 warrants were sold, generating gross proceeds of $309,985.
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https://www.sec.gov/Archives/edgar/data/849636/000149315216010598/pre14a.htm
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