How CLOSE is INNV to BREAK EVEN or PROFITABILITY 'NOW'
After looking at CC of the 1st qtr and all that Damaj said that has came true and now the 6.6/6.8 million or more 2nd qtr revenue how close are we...do we make it this qtr ?
-- Net loss totaled $1.8 million, or $0.01 per common share, for the three
months ended March 31, 2018 compared to $2.5 million, or $0.02 per common
share, for the three months ended March 31, 2017 representing a decrease
of 28.2%. The net loss in 2018 included a non-cash expense of $0.3
million for the loss on debt extinguishment. The net loss also included
interest expense of $0.2 million which was non-cash and related to
amortization of debt discounts.
First quarter 2018 and recent developments:
-- Received net cash proceeds of $2.8 million from the exercise of warrants
to purchase shares of the Company's common stock, raised net cash
proceeds of $1.9 million from the issuance of notes payable during the
first quarter of 2018 and current total cash on hand is $4.9 million;
-- Entered into an exclusive license and distribution agreement with Acerus
Pharmaceuticals in January 2018 granting them exclusive rights to market
and sell UriVarx(R) in Canada;
-- Entered into an exclusive license and distribution agreement with Lavasta
Pharma in January 2018 granting them exclusive rights to market and sell
ProstaGorx(R) in various countries in the Middle East and North Africa;
-- Launched seven new products;
-- Received multiple product approvals in Canada; and
-- Expanded our Beyond Human(TM) sales and marketing platform to Canada and
launched three products there.
