You asked when will SRNA run out of cash? More importantly, when will SRNA need more cash (private placement). I'm sure they can continue to raise more cash in this manner for their operational needs. It is further dilution, though. One can only hope the company begins to show revenues covering costs.
2017 Revenue - $7.210M
Cost of Revenue - $5.300M
Gross Profit - $1.910M
Cost of Operations - $6.152M (more than double)
Operating Loss - $4.242M
Cash or Eqv at Dec 31 2017 - $2.468M
Private Placements are funding operations. CEO states more cash will be needed in 2Q or 3Q in 2018. That will come on top of last years private placements in 1Q 2017 ($2.685?) and Nov 2017 ($1.768M).
The press release in Nov2017 stated funds would be used to increase sales and project management teams. Along with a 500K note, the funds for this buildout are available for at least the 1st Q (which is due out in mid-May).
With any luck, the 1Q report will shows signs of strength on the top line revenues. That will increase dollars to fund operations and at the same time increasing share price. Further private placements can be executed at higher share prices, limiting dilution.
In reading through the annual report, though, there are lots of cautionary statements. The facility improvement and expansion is supposed to be completed in the 2nd Q which just began a week ago (that report won't be available until mid-August). The annual report stated that the Return On Investment on the facility improvement and expansion is expected to be within 24 months.
There is not much left to guidance except for speculation. I hope the money is being spent prudently.
