Wednesday, February 26, 2020 8:17:41 AM
Exactly. Given what they sold in 2019, and the cash they ended with ($45K) the burn rate is ~$100K/month. In a 6 month time period they spend $90K on R&D. The rest was for Kenny and his boyz.
They need to file the IND soon.
And how will they do that? Required is $650K. Last 10Q listed $45K in cash. Homie coughed up $150K. That doesn't add up to $650K.
Currently Kenny is struggling to pay himself first. He'll be blowing through a lot more shares in the coming 6-12 months. Assuming he can round up more Homies. Until then the mythical IND will just have to wait for yet another subsequent dilution to be funded.
The Jewel of the Mind is Colored with the Hue of what it Imagines
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