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Re: The Cardiac Kid post# 20

Tuesday, 03/15/2016 5:16:18 PM

Tuesday, March 15, 2016 5:16:18 PM

Post# of 108
BNET ~ Management really stands behind this company, management isn't taking a salary and they have made personal loans to the company. Very good to see.

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During fiscal years 2015 and 2014 and through the six months ended December 31, 2015, the Company experienced greater difficulty in raising equity funding than in the prior years. As a result, the Company faced, and continues to face, significant cash flow management challenges due to working capital constraints. To partially mitigate these working capital constraints, the Company’s core senior management and several key employees and consultants have been deferring (and continue to defer) all or part of their cash compensation and/or are accepting compensation in the form of securities of the Company (Notes 6 and 8) and members of the Company’s senior management have made loan to the company.


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