Or, one could just pull up a two, 2.5 yr chart and see how many times the exact same thing (spike/plunge/rise/slow return to 2 cent range) has happened, multiple times?
Maybe that would be worth a look? This is nothing "new" IMO or the indicator of the "verge of something big"? They just did qty-3 Asher convertible share deals as recent as Feb. 2014, for a grand total of $100K cash because it's "about to go big"? At their burn rate- the cash listed in that 10-K is almost gone in a few more weeks - unless there is already more shares being sold or some other form of "financing" already producing more cash?
Or, one can just read the 10-K statement- you know, that "boiler plate" ole "stuff" they just toss in for no reason I guess:
10-K, PAGE 25:
Risks Related to Our Financial Position and Need for Additional Financing
We will need to secure additional financing in 2014 in order to continue to finance our operations. If we are unable to secure additional financing on acceptable terms, or at all, we may be forced to curtail or cease our operations.
As of March 24, 2014, we had cash and cash equivalents of approximately $211,632.80 and a working capital deficit of approximately $13.4 million. As such, our existing cash resources are insufficient to finance even our IMMEDIATE operations. Accordingly, we will need to secure additional sources of capital to develop our business and product candidates as planned. We are seeking substantial additional financing through public and/or private financing, which may include equity and/or debt financings, research grants and through other arrangements, including collaborative arrangements. As part of such efforts, we may seek loans from certain of our executive officers, directors and/or current shareholders. We may also seek to satisfy some of our obligations to the guarantors of our loan with Seaside National Bank & Trust, or the Guarantors, through the issuance of various forms of securities or debt on negotiated terms. However, financing and/or alternative arrangements with the Guarantors may not be available when we need it, or may not be available on acceptable terms.
If we are unable to secure additional financing in the near term, we may be forced to:
· curtail or abandon our existing business plan;
· reduce our headcount;
· default on our debt obligations;
· file for bankruptcy;
· seek to sell some or all of our assets; and/or
· cease our operations.
If we are forced to take any of these steps, any investment in our common stock may be worthless."
$211K cash is about one month's worth of survival from their cash use spending/expense pages of same 10-K: so from March 14th, to today- it says that cash money ($200K or so) is about gone IMO, unless more has "materialized" as in more share sale deals or some other means- maybe warrants being exercised? Who knows? Doesn't seem like a statement you put in your SEC doc when you're "flush" or about to "go big", not IMHO? But, who knows, eh?
