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Sunday, November 08, 2015 11:45:32 AM
The prospectus also hinted that they would raise money on a milestone by milestone basis. They need $9.6M to finish the other 5 in-human units, which fits nicely with the $10M that they just raised. I was slightly in error earlier when I said the whole Q4 milestone is paid for. Really it's the two engineering units that are already paid for, and the cash raise will cover the rest.
The human trials were slated to cost $24M, but that included building additional robots. I'm betting that they will omit that step and do the trial with the 7 robots that they have. That will greatly reduce the expense of the trial and get us to CE mark. That's purely my conjecture, though.
Barring any bad news this week in the MD&A, I think the announcement that we are about to go robot-to-skin will help get the warrants back in the money. I'm afraid that the Dec warrants could be a lost cause, but I think the others are in play.
As always, this is just my opinion. Do your own homework.
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