Where did you find the $500k cash burn per quarter Eicoman?
The plan is a 30% reduction from operating expenses in comparison to 2016 operating expenses. They spent $15,279,000 in 2016. A 30% reduction of that is $10,695,300. That would considerably way more than $500k per month. I understand that not all of the expenses are settled in cash but the majority are.
also the 10K says they can't do public offerings til sept 2017,
and only $1.8M in cash in a private offer, I don't think they will dilute till sept, if needed
You are dead wrong when it comes to this. This is the logic that Casino was pushing for months. It's wrong. It's part of the reason that pissed me off even more. They didn't have to sell the assets - there was other ways to get the cash needed!
From the 10K.
as of March 7, 2017, we may only sell an aggregate of approximately $6.7 million of securities under our shelf registration statements on Form S-3. Through March 7, 2017, we have sold $1.2 million through the Aspire Purchase Agreement and $3.7 million in the September 2016 Financing, leaving $1.8 million available for sale under our shelf registration statement. If our public float decreases, the amount of securities we may sell under our Form S-3 shelf registration statement will also decrease.
They have $1.8 m they can sell through the Shelf registration form S-3. But they can access cash through the private placements, convertible notes and also by filing an S1 with the SEC.
We still maintain the ability to raise funds through other means, such as through the filing of a registration statement on Form S-1 or in private placements. The rules and regulations of the SEC or any other regulatory agencies may restrict our ability to conduct certain types of financing activities, or may affect the timing of and amounts we can raise by undertaking such activities.
There was always other ways to obtain the cash to allow the company to get to the FDA decision.
also the patent issue OT raises is moot, DDAIP patnets only last till 2019,
still Apri did not give up their patent rights on anything they want to do, which is USA focused
Moot? Ok. DDAIP patents have already expired for some of the earlier versions if you want to go down this route. DDAIP in combination with certain other drugs have patents extended to 2032. Yeah they kept a license from Ferring for Rayva. But that was the point. DDAIP was also sold not just Vitaros. It adds insult to injury if you ask me.
Your point is that DDAIP selloff is not a big deal since it's off patent? Honestly, I don't think it's a big deal but it's because there is no way that Apricus can take any of these drug combinations through the clinical trials itself.
By the way, they kept certain licenses to DDAIP. But in addition to Vitaros Usa patent and Rayva worldwide patent - they kept licenses to patents that were already "given" to another company from the Bassam Damaj days. Companies like Stellar in Canada that was "given" the Mycova product or that other one here in the U.S. that was "given" the license to a NSAID in combination with DDAIP. Apricus never received a single dollar from these companies, yet they are forced to cover their asses with this, just in case those companies or Ferring want to come back and sue them.
Good luck
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