Enzolytics Inc (ENZC)

[foxi]

Does this look like a cashflow issue?

September 30, 2021
Net income/(loss): (388,583)
Cash and cash equivalents: 1,583,154
https://www.otcmarkets.com/otcapi/company/financial-report/312797/content

December 31, 2021
Net income/(loss): ?
Cash and cash equivalents: 2,231,202
https://www.otcmarkets.com/otcapi/company/financial-report/327932/content

March 31, 2022
Net income/(loss): (844,593)
Cash and cash equivalents: 1,475,493
https://www.otcmarkets.com/otcapi/company/financial-report/334367/content

June 30, 2022
Net income/(loss): (224,198)
Cash and cash equivalents: 515,260
https://www.otcmarkets.com/otcapi/company/financial-report/346555/content
Note: there's a line on Page 3 which still doesn't explain the dip in cash since Q1:
Cash at beginning of period: 737,195


In general, it looks like recurring expenses in the following categories comprise most of the loss each quarter. R&D is the most variable category.

General and administrative
Salaries, wages and related costs
Research and development
Professional fees



If ENZC was down to half a mil in operating cash a whole quarter ago (June), and if they haven't found a financing partner, and if they don't have a revenue source, how do they raise more cash?

My thought is they would be forced to dilute, which would require a reverse split to give more O/S headroom and increase price per share. They've also raised money in the past by opening up new Preferred to sell to private investors. Thoughts?


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