Enzolytics Inc (ENZC)

[foxi]

A quick look thru the fins and I didn't spot any surprises.


Some notes:

No revenue. (Page 2)

32,500,000 common shares are accounted on Page 4, these were issued toward the end of March after ENZC put out the special filing about share issuance history & dilution. Still no info on why they were issued.

Top of Page 6 rehashes what ENZC paid Bioclonetics people who own IP rights to ITV-1. (This info is not new, but I saw a question about IP rights come up last week.) It doesn't say the rights ever became company property, and the latest PR describes them as in fact exclusively licensed to ENZC.

"[T]he Company believes there are sufficient funds to continue operations and research and development programs for at least 12 months from the date of this report." (Page 6) There must be an arrangement to raise additional operating cash as they only show $294,316 in cash & cash equivalents on Page 1, and the cash burn for the filed quarter was $208,972 according to Page 3. Previously, they've sold Series E to a private investor to raise cash.

"The Company currently has no commercially approved products." (Page 7) But IPF Immune is coming this month?

Subsequent Events (Page 24) only mentions Dr. Kirsten Bischof oboarding, and the company hiring Gries and Associates in July. This particular filing is Unaudited.