"This company can only get better from here"??
The cold hard facts of their own SEC filings say this company is teetering on BK, on any given day of the week, month you want to pick.
$46K THOUSAND in total cash left on the balance sheet (what many people keep just in their personal local checking/savings accounts) at close of last 10-K and only beefed up by a $100K or so added at the last minute, on a string of ASHER deals amended to end of 10-K. Versus a pile of debt and loans exceeding $12 million. One key loan that needed/needs to have been "renewed" or "re-guaranteed" by now according to the 10-K, and has not been mentioned yet as of end of Q-1. They doubled the outstanding shares last yr, 2013 from less than 200 million to now over 420 million- yet were cash broke, nearly insolvent on Dec 31st, 2013 close of the 10-K.
Any cash balance that 10-K showed up through mid Feb 2014 will/would already be GONE IMO, spent at their burn rate, unless more ASHER or share sales or some form of "funding" has occurred by now (Mid April, 2 months later, $211K would be gone)- and those are the simple facts, versus hype and nonsense talk IMO.
Every major trial they've had has gone nowhere- there flagship product, ole Myocell not even under patent protection anymore and stalled/parked since about 2010. MIRROR has gone silent, a barely mention in their latest SEC filings. And who cares about a 5 person phase I in Mexico now? That would be 3 minimum, probably more like 5 yrs away from ever even attempting to reach FDA approval IMO. It hasn't even advanced to beginning a phase II yet. They'd have a billion shares outstanding at this pace/rate, before that ANGEL whatever, ever had the chance of seeing the light of day before an FDA approval panel, IMO. Reality versus hype.
Webinare and seminars and "talks" and demonstrations and "awards" and blah, blah, blah- same old broken record that MEANS NOTHING IMO. Been heard 100's times over, going back yrs. And what has it "accomplished"? A sub THREE CENT, massively diluted stock and NO CASH, 5 person "company" - that's what. I'd be surprised if they even have the cash on hand - to fly and book someone in an decent hotel at some "conference"? Must have to come out of the pittance of their "R&D" fund- the amount they spend on "R&D" is about equal to what they pay the two, key insiders in base salary- the ole CEO and CSO. TWO people are consuming as much as they spent on the ole "trials" budget, "R&D" for what terms it self and "R&D and research and development company" in their own PR and all the nonsense being blasted around here. It's laughable IMO.
Seminars, Schmeminars- WHO CARES. And no, ole "Sheldon" hasn't brought in any bank or coin- not a shred of proof of that. They are cash poor- doing AHSER deals right up through mid/late Feb. 2014 in the most recent 10-K. All else is pure speculation, hype and just empty opinions. Not a shred of fact to back it up IMO.
And yes, as previously pointed out this AM, it's more than likely going back to "pennyland" or true one cent, 2 cent "penny-ville". It worth is essentially ZERO (debt versus cash on hand, versus huge negative cash flows, versus share dumping as only means to stave off BK or insolvency at any given time- and their own 10-K states that and strongly warns about it), by all business metrics that are commonly accepted accounting practices. They can't even, barely service their own debt on any given day- and exist it appears IMO, to primarily pay themselves and key insiders. What exact day to day "business" is even taking place- to advance any key product or technology to even remotely ever being salable, let alone ever profitable, is hard to even discern at this point IMHO.
