Monday, November 15, 2021 6:11:41 PM
A few interesting points from reading the Q:
Yes it seems it is suggested the management still expect publication/TLD before the end of this month:
"On October 31, 2021, the Company further extended the suspension of approximately 297.6 million warrants and options held by the Company’s certain officers and board of directors until at least November 30, 2021. Additionally, certain investors also agreed to suspend total 1.4 million warrants until February and April 2022."
The company ended quarter of September with $3.9 million in cash, and $2.5 million prepaid expenses and other current assets for a total of about $6.3 million, plus $8.2 million from exercises of warrants and issuance of notes between October 1, 2021 and November 12, 2021, for a total of about $14.5 millions.
Based on an average cash burn rate of about $7.5 millions in previous Qs, it seems the cash available as of 1 October may sustain the company will into the first quarter of 2022.
last thing, now I do believe the sincerity of the company taking Covid-19 pandemic as a reason for delay after carefully reading the following
"As also previously reported, coronavirus-related difficulties have impacted most aspects of the process, especially with the waves of COVID-19 cases in many areas. The independent service firms have had limited capacity, and restrictions on operations. Key experts at certain specialized service providers have been unavailable for periods of time due to illness in their family. Other experts have gone on extended leave due to restrictions on operations. Clinical trial site personnel have been unavailable due to being reassigned for COVID-19, and the limited site personnel have had to work under restrictions. The clinical trial sites have not allowed personnel from the contract research organization and other service firms to make monitoring visits to check data and resolve queries. Committee processes and regulatory processes have been focused on COVID-19 matters and delayed on other matters. Firms such as the ones storing the Phase III trial tissue samples that are needed for certain analyses, and the firms conducting the analyses have had only limited operations. Even logistical matters such as the shipping of materials have been subjected to substantial restrictions and delays. There has also been a reduction in compassionate use cases during COVID-related travel restrictions"
Overall I am happy to have bought shares recently.
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