Thursday, June 22, 2017 10:05:17 AM
http://ir.archtherapeutics.com/all-sec-filings/content/0001144204-15-070409/v425708_10k.htm
September 30, 2015 Form 10-K Note the $ 3 – 5 million plus $ 7 – $9 million or TOTAL $ 10 to $ 14 million additional capital required to raise
“With respect to our goals relating to AC5, we currently project requiring at least $3,000,000 – $5,000,000 of additional expenditures to complete the clinical and regulatory milestones to obtain necessary regulatory approval in Europe. We further expect that obtaining regulatory approvals in the U.S., including conducting additional required clinical trials, would require at least an additional $7,000,000 – $9,000,000 in capital. In addition, we further expect to require additional funds for corporate and development programs.
These estimated capital requirements potentially could increase significantly if a number of risks relating to conducting these activities were to occur including, without limitation, those set forth under the heading “Risk Factors” in this filing. We anticipate that our operating and other expenses will continue to increase as we continue to implement our business plan and pursue and achieve these goals. After giving effect to the funds received in past equity and debt financings and assuming our use of that funding at the rate we presently anticipate, as of the date of this filing, we believe that we will have sufficient cash to meet our anticipated requirements through May 2016. We could spend our financial resources much faster than we expect, in which case our current funds may not be sufficient to operate our business for the entire duration of that period.”
So at 9/30/15 ESTIMATED $ 10 to $ 14 million for completion of ALL clinical trials
Money Raised since 9/30/15
2016 Raised $2,708,749 exercise of warrants
Stock private placement $ 3,106,593
Total $ 5,815,342
2017
Net Stock sold in private placement and exercise of warrants and payoff of Debt
$ 5,401,263
Grand Total $ 11,216,605 which is more than the $ 10 million above…which means we are not that far off from completion
Total Capital raised by $ARTH since going public in 2013 $ 24,207,274
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