Flatlining- took 45 minutes since first trade which was a little over $500 bucks worth and now they have the bid over that last sale, and the spread is wide.
Looks like vol has dried up and the 10-Q, put out late on a Friday after the market closed isn't getting anyone too excited IMO. Almost no cash, dilution out the whazoo, all the usual.
I'd guess IMO, it's gonna be PR "about something" time here, any day now.
When one looks at those large salary increases for just two people, versus how little cash they had left for the end of an entire qtr, about $92K (yep, $92 THOUSAND dollars, despite massive dilution) then it gives some perspective.
Just those two salary boosts consume how much cash per month?
Tomas $525K / 12 = $44K
Comella $250K / 12 = $21K
Just those two "base" salaries are $65K a month in cash needed (remember, they just finished the qtr with $92K grand TOTAL cash to their name in the bank)
Then they just gave Tomas a $500K "bonus" on top of the base salary and Comella a $300K bonus on top of her base. That's $800K to be spent/paid to two people, when they spent $15K for an entire qtr on R&D and finished with $92K grand total in cash in the bank.
Their rent/lease runs something like $6K at least a month, then you got electric, computers, insurance and other "basic" overhead to run any business. Figure $10K a month probably right there.
Add it up, and they don't even have probably ONE MONTH'S CASH left on that cash/cash equivalents line in that 10-Q, IMO.
That is the reality. Despite the big boasting of "revenue" blah, blah- they are cash broke, like they pretty much always are, and that's after pouring out about 51 MILLION shares of dilution for a single qtr.
