Monday, November 29, 2021 12:09:33 PM
Ok, but I believe this one seals the final cash needed to wrap up the trials, get TLD released and ramp up the process to move forward with approval. Shorts must be covering now as they realize they will be trapped from purchases below $1!
The "last raise before TLD" and "this means TLD soon" has been said about virtually every cash raise in the last 5 years.
I also would not be surprised to see at least some of that $11M note repaid this Q. No need to disclose that until the 10-K so we have really have no grasp on the cash position.
At best, they have $20M in cash. With a $8M/q run rate plus about $2.5M/q loan payments with another $3M or so do in Feb/April '22. So that would be about mid Q2.
BTW, if they only had $5M in cash before this deal they were well lower than expected. Would have have made it into Jan.
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