Seelos Therapeutics Inc (SEEL)

[OldtimeramI]

looks like they're spending money on the work for the OPQ review,
dilution coming soon


Are you suggesting that I.R. did not know when they made the $500k cash burn per month "comment" ( I am assuming to Aprilov and yourself ) that they weren't aware of Apricus' intentions of spending money on the work for the OPQ review a month ago?

Projected cash burn means reduction of cash from all projected expenses.

It's was either a lie on their part or they were faced with expenses for the review that they weren't expecting a month ago.
$1.6 million in 24 days of unexpected expenses. How much more?

As far as dilution, it's pretty obvious now. Even for the Apricus permanent bulls.

With their cash position at the end of March 2017 - no way they met the $2.5 million shareholder equity requirement by the end of the 1Q 2017.

Btw, it's actually a reduction of $3.1+ million in cash for the 1Q 2017 if you compare the cash position to the pro forma they filed after they sold the Vitaros ex-U.S. rights. Pretty bad - since the cash position includes the last full quarter of Vitaros sales royalties due to Apricus.

Good luck