Saturday, January 08, 2022 7:49:36 AM
1. Net cash balance as of Sept Qtr end was ~$5mm
2. Quarterly cash burn in the Sept quarter was ~$500k. On an annualized basis, that's $2mm. So there is ample runway for a few quarters. In fact, the company stated this on page 13 of the 10-Q:
"Based on this current business plan, the Company believes its existing cash is sufficient to conduct planned operations for one year from the issuance of the September 30, 2021 financial statements."
3. Book value for for an early stage growth company is basically irrelevant. Anyone that invests in growth companies should understand that there will be negative retained earnings for some time until the company starts generating revenue. On the positive side, those accumulated losses will serve as net operating losses for tax purposes. That means, the company won't pay taxes for a while, which is a GOOD thing and positive for shareholders on a prospective basis.
4. The balance sheet doesn't reflect the market value of Frictionless Financial Technologies ("FFT"). Given AppTech Payments was valued at $130mm prior to uplist, it's reasonable to assume FFT is worth a lot more than the price paid for the investment, which is recorded on the books at only $500k.
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- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2023 04:40:32 PM
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