Sheesh...first you say that they must have another capital raise within the next 90 days. Now you're saying that the share price will go to zero if they don't demonstrate some potential.
That's about as dire as I've ever heard for this company.
So obviously, if the company doesn't announce the need for another capital raise by the end of June, you and Otis1111 will have to agree that the company is in much better shape and generating enough revenue to sustain itself.
Does that make sense?
And btw, I don't agree with your assessment regarding the exercise of the warrants. Typically, warrants actually generate revenue for the company when they are exercised. See below:
USE OF PROCEEDS
We will not receive any proceeds from the sale of the shares of Common Stock or Warrants by the Selling Securityholders. However, we will receive proceeds from the exercise of the Warrants by the Selling Securityholders to the extent they are exercised. We estimate that the maximum proceeds that we may receive from the exercise of the Warrants, assuming all the Warrants are exercised at their exercise price of $3.50, will be $7,954,545. We do not know, however, whether any of the Warrants will be exercised or, if any of the Warrants are exercised, when they will be exercised. It is possible that the Warrants will expire and never be exercised.
There are circumstances under which the Warrants may be exercised on a cashless basis. In these circumstances, even if the Warrants are exercised, we may not receive any proceeds, or the proceeds that we do receive may be significantly less than what we might expect. We intend to use the aggregate net proceeds from the Private Placement and the exercise of the Warrants for general corporate purposes, including working capital, capital expenditures, business development and research and development. The actual allocation of proceeds realized from the exercise of these Securities will depend upon the amount and timing of such exercises, our operating revenues and cash position at such time and our working capital requirements. The Selling Securityholders will pay any expenses incurred by the Selling Securityholders for brokerage, accounting, tax or legal services or any other expenses incurred by the Selling Securityholders in disposing of the shares of Common Stock and Warrants. We will bear all other costs, fees and expenses incurred in effecting the registration of the shares covered by this prospectus, including, without limitation, all registration fees and fees and expenses of our counsel and our accountants.
