iBio Inc (IBIO)

[redspeed]

From there last announcement, this is the nail in the coffin. Don't be confused with what all companies have to put in their filings about risk. This is very different and their accounting firm says basically, you aren't going to be around much longer. By law, BIO had to disclose it.

The question is, will BIO take drastic measure or keep their head in the sand. Judging by the open position they have posted, it's likely the latter. But don't worry about Tom, he made enough that he can retire now on shareholders backs.

Notice the first line. The Company has concluded...

The Company has concluded there is substantial doubt about the Company's ability to continue as a going concern. Accordingly, the Company has been informed by its registered public accounting firm that its audit opinion that will be included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022 to be filed with the Securities and Exchange Commission will include an explanatory paragraph related to the Company’s ability to continue as a going concern. This announcement is made pursuant to NYSE American LLC Company Guide Section 610(b), which requires public announcement of the receipt of an audit opinion containing a going concern paragraph. iBio is evaluating a number of potential options to expand its cash runway, the implementation of which will impact its liquidity. Potential options being considered to increase liquidity include lowering our expenses through decreasing spending, such as with the IBIO-202 program, and focusing product development on a select number of product candidates. Additional options include the sale or out-licensing of certain product candidates or parts of the business, raising money from capital markets, grant revenue or collaborations, or a combination thereof.