Ain't that the truth. Riddle me this one EichKing. At the end of June 2017, they had working capital of $23.6 million that they stated would take them to end of fiscal year 2019. Here we are, 6 months later, contingency plan still in place, with $41 million including the CHA sale as stated below, but we are still only able to make it to end of fiscal year 2019.
"According to management estimates, liquidity resources as of December 31, 2017, together with the proceeds received from the sale of shares of CHA Biotech Co. Ltd. (“CHA”) after the balance sheet date (See Note 1c) and the issuance of shares under the At Market Issuance Sales Agreement (See Note 6), will be sufficient to maintain the Company's operations into the fourth quarter of the Company's fiscal year 2019. The Company's inability to raise funds to carry out its business plan will have a severe negative impact on its ability to remain a viable company."
Almost double the amount of cash, but yet the same survival date, even though 2 quarters have passed. What gives? We going to expand facilities further in the hopes we are going to be able to sell something one day. A lot of nieces and nephews reaching working age? Some more hires coming from Elbit? Maybe we will become the first company ever with tri-CEO's. Egozi almost has a year under his belt as CFO. Promotion to you as well. And then another 2 million share bonus for all THREE of us. Something doesn't add up.
But like always, nobody will comment. Or state it's the norm in Biotech. Don't know the inner workings. Trials are progressing at a snails pace but progressing nonetheless. No bad news. It's a biotech startup that's been starting up for 15 years. Trials always take longer. Want to get the trial design just right. I've heard ethical concerns with NHP's taking up to a year!!! More excuses than the twins. Pluristem cult is what I say.
But again, I'm good with management and board. Give your head a shake, or a couple bangs on a brick wall if you must, because you're wrong.
Cmon Spidey, Zzatt, JP, Ski, Saud, n3m Anyone. How do you write this one off? Please give a response if you can on any of these points I've brought up. I'd say Allo, but I'd just get a beam me up, or Betty Sue. Or a post of a new show. LMBO!!! I'm sure I'll get quoted tomorrow from one I've just mentioned., but then again, they avoid my questions like the plague.
