Applied DNA Sciences Inc (APDN)

[apdn1mill]

Yes.See below. They said the same thing on earnings report for quarter ending September 2013. How can they say $3,540,145 will be enough for next twelve months ?(they might have assumed manta expansion will happen and more revenue will occur as stated below.But it did not happen)

The Company incurred a net loss of $6,291,650 and generated negative operating cash flow of $2,066,448 for the three months ended December 31, 2013. However, the Company has attained positive working capital of $3,540,145 as of December 31, 2013.

Management believes that the Company’s positive cash balance and working capital as of December 31, 2013 along with its current customer base, projected cash flow and the minimum projected revenues for this remaining fiscal year will allow the Company to have sufficient capital resources to meet projected cash flow requirements for the next twelve months from the filing date of this report. However, if the Company does not meet its minimum revenue projections for this remaining fiscal year, the Company will be required to seek additional capital. The Company is currently in discussions with investment bankers regarding possible financing.