Tuesday, May 22, 2018 10:04:16 AM
For the period ending Sept 30, 2017, the company reported $13.5M in cash and cash equivalents, with accounts payable of $125K, giving them $13.4M dollar bills left to spend.
For the period ending Dec 31, 2017, the company reported $12M of cash and cash equivalents, with accounts payable of $100K, leaving them with $12M dollar bills to spend.
For their recent reporting period discussed in the PR, ending March 31, 2018, the company reported cash and cash equivalents of $10.6M and accounts payable of $2.3M, leaving $8.3M dollars to spend.
Hence, the company's available cash dwindled by $1.4M in the 3 months between Sept 31 and Dec 31, but by almost $4M during the 3 months of the last reporting period.
If the reduction in available cash continues at the same rate as in the last reporting period, say $1M/month, they would have $6M to spend at the end of this month, and $0 by the end of Nov 2018.
For the past year, the company has been trying to raise cash, as indicated by their claim in all their SEC filings: "The Company has engaged investment banks to advise it as to raising further funding as the Company progresses towards human clinical trials."
Yet, the company has so far failed to raise a single penny. Certainly not the rosy picture painted in the PR.
A casual stroll through the lunatic asylum shows that faith does not prove anything. Friedrich Nietzsche
Recent NNVC News
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 09/27/2024 08:15:38 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/09/2024 08:30:39 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 08/09/2024 08:05:25 PM
- NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • InvestorsHub NewsWire • 05/02/2024 02:07:42 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/16/2024 09:53:32 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/14/2024 09:55:35 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/19/2024 09:44:48 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 12/04/2023 09:08:49 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 10/13/2023 08:30:41 PM
Unitronix Corp. to Invest $3 Million in USA Unity Coin Project • UTRX • Oct 7, 2024 7:08 AM
North Bay Resources Announces Assays up to 5 oz/ton Gold, 1.5 oz/ton Platinum, 0.5 oz/ton Palladium, and 0.5 oz/ton Rhodium at Mt. Vernon Gold Mine, Sierra County, California • NBRI • Oct 4, 2024 9:15 AM
Basanite, Inc. Appoints Ali Manav as Interim Chief Executive Officer • BASA • Oct 3, 2024 9:15 AM
Integrated Ventures Announces Launch of MedWell Facilities, LLC and Lease Agreement with Giant Fitness Clubs • INTV • Oct 3, 2024 8:45 AM
Beyond the Horizon: Innovative Drug Combinations Offer New Hope for Alzheimer's and More • NVS • Oct 3, 2024 8:45 AM
SMX and FinGo Enter Into Collaboration Mandate to Develop a Joint 'Physical to Digital' Platform Service To Enhance Natural Rubber Industry's Ability to Report on Sustainable and Ethical Supply Chains • SMX • Oct 3, 2024 7:00 AM