Monday, May 17, 2021 10:23:30 AM
The money they are borrowing from the note holders isn't dollar for dollar. The note holders are converting their shares at drastically reduced rates which dilutes the company rapidly and makes your piece of the pie that much slimmer.
Every time the FDA requires Tom to make modifications to the device there are large engineering, tooling, and manufacturing costs. He's had a lot of issues with the molds for several years. No way to look on the internet to compare FDA costs just like there's no way to compare FDA clearance timelines. No one would have predicted the DeltaWave would not be cleared six years ago if they used internet FDA clearance comparables.
Tom's already put it out there that there is going to be a steeper regulatory climb which equates to time and money.
It's going to require a lot more cash because it's going to require a lot more time. The longer it takes for the FDA clearance the closer to the fully diluting the 3 billion in authorized shares which won't leave much meat on the bone if you are long.
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