Sunday, August 13, 2017 8:42:28 AM
The history of significant losses, the negative cash flow from operations, the limited cash resources currently on hand and the dependence
by the Company on its ability – about which there can be no certainty – to obtain additional financing to fund its operations after the current
cash resources are exhausted raises substantial doubt about the Company’s ability to continue as a going concern. These financial
statements were prepared under the assumption that the Company will continue as a going concern and do not include any adjustments that
might result from the outcome of this uncertainty.
The Company plans to fund its future business operations using cash on hand, through proceeds from the sale of additional equity or other
securities, including sales of common stock to Aspire Capital pursuant to the common stock purchase agreement entered into on May 15,
2015, and through proceeds realized in connection with license and collaboration arrangements. The Company cannot be certain that such
funding will be available on favorable terms or available at all. To the extent that the Company raises additional funds by issuing equity
securities, its stockholders may experience significant dilution. If the Company is unable to raise funds when required or on favorable
terms, this assumption may no longer be operative, and the Company may have to: a) significantly delay, scale back, or discontinue the
product application and/or commercialization of its proprietary technologies; b) seek collaborators for its technology and product
candidates on terms that are less favorable than might otherwise be available; c) relinquish or otherwise dispose of rights to technologies,
product candidates, or products that it would otherwise seek to develop or commercialize; or d) possibly cease operations
.
Recent IBIO News
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