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Friday, November 06, 2015 11:23:08 AM
$6 mil left to pay for Q4 costs
Rest of 2016 milestones costs raised slightly to 27M + 10M at the end = $37M
I just don't see how monthly burn rate is part of milestones costs so I am keeping them separate 3.8 /mo x 18 months = 68.5M
Cash on hand $1.5M
Past weeks fundraisers 7.6M US + 4 + 4+ 1.4 + eventually 15 = $32M
OWE: 6M + 37M + 68.5M = $111.5 M
HAVE NOW: 1.5M + 32M = $33.5M
STILL NEED: $78M (All warrants exercised covers it but some are 2018 folks and at 2.50 ???)
Conclusion: Outright acquisition in early 2017 or some way to ensure ALL warrants get exercised or a combination of yet ANOTHER financing / loan / deal with some warrant exercise along the way.
NOTE: Outside of US sales of SPORT would be real nice and offset some of this as well !!!
MD&A will be a must read...clowns better not have raised milestone costs estimates as well (that much)
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