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DewDiligence

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DewDiligence

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Re: DewDiligence post# 220730

Friday, 01/11/2019 5:00:24 PM

Friday, January 11, 2019 5:00:24 PM

Post# of 257285
ADXS 10/31/18* pro forma cash=$38.6M. This figure consists of the current assets less current liabilities on the 10/31/18 balance sheet (https://www.sec.gov/Archives/edgar/data/1100397/000149315219000489/form10k.htm#f_002 ) after ignoring the “Deferred revenue” and “Common stock warrant liability” lines, which are accounting artifacts rather than true liabilities.

Assuming a $50M annualized cash burn as per the company's guidance in its 1/10/19 PR (https://finance.yahoo.com/news/advaxis-reports-fiscal-2018-financial-210500973.html ), the cash burn since 10/31/18 has been about $10M, and hence the pro forma cash as of today is approximately $29M.

*End of fiscal year 2018.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
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