I was not able to listen to the CC; however, is this the response you are referring to below? I can't imagine he said all of this in 15 seconds. Also, he once again reiterated that the goal is partnering and not diluting shareholders forever. If we have successful trials, no partner in 12 months, and Leo is diluting...then I can fully understand being upset.
From CC:
Leo Ehrlich
Okay. Well Cellceutix has always operated on low cash reserve. We've accomplished so much all the time, we just don't over dilute at any time. We try to be very conscientious of every share. We're concerned about the shareholders and dilution and perhaps that's the reason for the decline in our share price, but I think otherwise.
For most small price hikes, that is the nature of the beast; financing and money in the bank. If you look at the picture at the big picture, we've really accomplished a lot; successful clinical trial, we acquired another compound, we build a strong staff as 15 full-time employees without too much capital expenditures comparatively.
We've done this by operating really efficiently and we allocated our resources wisely. We remain flexible enough to adopt our cash burn as necessary as I mentioned our controlled cost of different trials. So therefore, we try to keep dilution at a minimum.
We still have millions of dollars available for our equity line and really our goal is we should accomplish several developmental milestones over the coming months. With strong clinical data, I wouldn't anticipate any difficulties in securing additional capital on favorable terms.
However, as we said, our goal is partnerships. If achieved that's game changing with respect to expeditious drug developments and infusions of capital. So, let's say ultimately, we're working vigilantly on maturing the negotiations towards landing a partner, but we're diligent on all the little capital needs that we always have to try to make sure there's enough in the bank to keep going. I hope that answers your question.
