Calypte Biomedical Corp (fka CBMC)

[bloodhound99]

lets see ottoman

from 10KSB just out

Current liabilities:
Accounts payable and accrued expenses $ 3,500 $ 4,029
Advances from related parties 1,871 -
8% Notes payable to a related party 46 -
12% Convertible debentures payable 60 60
Capital lease obligations – current portion 131 174
Current liabilities of discontinued operations 190 321

Total current liabilities 5,798 4,584


Total CURRENT liabilities, that is money due NOW is 5.798 million. And they have been in the "quiet" mode burning $ 400,000 or so cash burn each month.

Now they are going to put in 5.2 million and open the floodgates of new developments which would be even higher expenses. Not very likely in spite of all the "bravado" stated by the employees who are making $ 200,000 to $ 500,000 a year in salaries, bonuses, "termination bonuses", housing allowances, car allowances etc.

Do you really expect them, whose lifestyle depends on getting every nickel of this money, to actually give a balanced picture or even to consider a nominal stock buyback to show good faith. Dream on...