NanoViricides Inc. (NNVC)

[JG36]

NNVC has $10 million in cash and is burning through nearly $2.5 million per quarter. It will be tits up in about one year. Fortunately for Dr. Seymour NNVC should stay solvent long enough to make all the promised payments to Dr. Seymour to the end of 2018.

The shareholder's equity is over twice the cash on hand minus accounts payable, so investors are still valuing the business well above the net cash it has in the bank. This is probably unwise.