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Re: wrinklesobw post# 146575

Wednesday, 05/11/2022 8:32:26 AM

Wednesday, May 11, 2022 8:32:26 AM

Post# of 175205
"ZERO proof" about cash running out? Burn rate vs. remaining cash vs. offering dead in water for 8 months, all says out of cash around year end. Need substantive positive news to sell offerings. Fact, not opinion.

MK's Jan forecast was for 2nd meeting scheduled early 2022. Didn't happen. So behind schedule towards IDE submission. Fact, not opinion.

Who said no IDE submission before year end? Has to happen well before year end or game over.

Chapter 11 bankruptcy would be option if cash/time runway running out but MK can convince new investors IDE approval is close. If MK couldn't sell new investors on that, then his lawyers would move to game over Chapter 7 bankruptcy. In either bankruptcy option, current common shareholders lose everything. Happens all the time in business. Still hoping MK can get his act together with IDE submission before cash/time runs out.
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