Ekso Bionics Holdings Inc (EKSO)

[stockholm dweller]

Funding and fiduciary duty.
I think there might be a misunderstanding regarding the funding issue, or to be more specific, the need for additional funding.
Enclosed file is from the previous September. See how it states that the funds were enough for Q1 2019 only. Now it’s Q2. ATM at work meanwhile. They have a fiduciary duty to write this since an ATM is not a secured funding. Just wanted you to understand this. This is a standard disclaimer and you will see this in every coming ER as long as they choose to tap into the ER in small increments when the share price is beneficial. Another reason (primary reason really) for tapping into the ATM slowly, is that it doesn’t influence the price to a large extent. In rough simple to remember numbers they have access to $35M (20 ATM, 5+5 China,5 cash). Current cash burn $4M/quarter. That equals to 2 full years and some more of operating capital all in all. So you see, any talk of funding being a concern is factually incorrect. If things proceed as they have (cut cash burn in more than half YOY and all other things improving), the company might even be profitable by then and this is the last financing ever needed.

Ofc, they could theoretically just skip the ATM and do another round of financing. Can’t rule that out, although that would be totally detrimental and unnecessary, right!
the previous er