We don't know what the Company has been spending its cash on. I thought that the mystery $2M raised in April and May, falsely attributed to the existing Aspire agreement, was to be used for the "production of Brilacidin for further studies and other clinical trial payables".
Given that the Prurisol trial results were being held up by a CRO for a payment...at least that was my understanding...it seemed to me that that was what was referred to by "clinical trial payables". However, four months later, having raised another $2M at the end of June and another $1.3M last week. it's not clear to me that the CRO has been paid YET. As you have been told, as if you didn't know, we don't know how much is owed to the kidnapper CRO.
"the 1.2 million alone will not get P back from the CRO, but it will pay salaries for a while."
NOBODY knows if the first half of that is true but a quick look at the 10-K may be revealing when it comes to the second half. Several years ago LE and KM held off on taking their salaries and, as a result, the Company accrued (established a liability) for them. Turns out that from 6/30/17 to 6/30/18 that liability didn't change. What that means is simply that whatever cash crunch has been in place for the last year hasn't deterred any "related parties" from taking cash for their salaries and that your comment that "but it will pay salaries for a while" isn't an unreasonable expectation at all.
The latest financing announcement didn't address the CRO payment issue or the Prurisol results specifically:
"These funds will be used to continue to advance the Company’s pipeline of first-in-class drug candidates: Brilacidin for Oral Mucositis, Kevetrin for Ovarian Cancer and Prurisol for Psoriasis."
What's up with that?
But can it core A apple?
Yes Ralph, of course it can core A apple.
