Hi JK - sorry for the literal hopscotch. Here is a relevant excerpt from the 10K filed in Jun/07.
"We anticipate spending up to approximately $250,000 over the next twelve months on ongoing research and development (primarily salaries and consulting fees) of the different applications and uses of our technologies.
During the next twelve months, we do not anticipate increasing our staff.
As of June 30, 2007, we had $2,240,358 in cash on hand. Accordingly, management believes that there is adequate cash on hand to fund operations over the next twelve months."
Prior to this, under "Risk Factors" it was stated:
"If we do not generate adequate revenues in our fiscal year ending June 30, 2008, we may need to raise capital to continue our operations. We estimate that we will require $1.8 million to carry out our business plan during our fiscal year ending June 30, 2008. We had approximately $2.2 million in cash on hand at June 30, 2007."
They have implied that, firstly, sans a major disaster, funds are adequate to June/08 and secondly, should they need an additional influx of cash, it won't happen until after the year ended June/08.
By my calculations, they are estimating a positive cash flow of $440,358. After deducting their anticipated R&D (salaries and consulting fees to y/e 6/08) they will still have appx $190,358 in their coffers.
Should all go wrong, and they, for example, cause this dilution via funding in January out of the blue, or worse, pack it all in prior to 6/08, we can complain all we want, however, to little avail as they are incorporated in Nevada. (as am I). Although, I always keep my promises ~ it's more for tax purposes than avoiding liability issues.
In my opinion, all will be well with Integral. I think that their personalities leave a lot to be desired, but I also think that the IP is bigger than anything that they can do to harm it's success in the future. I feel the same about Jasper, Knowles, Heatron, ADAC, and Espirit. (ie. much more powerful than any negative PR created by Integral). As long as the manufacturers have their ducks in a row (historically these ones seem to have always done so) any insufficiencies in personality over at Integral are irrelevant to me.
AI
