Friday, November 14, 2008 6:24:49 PM
The good news, inventory has gone from $121,952 (3/31/08), to $195,036 (6/30/08), to $421,345 (9/30/08). Net loss was reduced from 8.2 mil (6/30/08) to 1.5 mil (9/30/08).
Now the bad news. Gross sales at $5,982!! Is this a public company? New investors are driven by sales numbers and there are no sales. Does anyone on this board, who understands the manufacturing process, know why cost of sales is $134,943 on 5K sales? These costs are supposed to be directly related to the sold units. Is this spoilage? demonstration shippers? New investors won't touch this kind of execution.
Finally, Cash, yikes! We've gone from $2.1 mil (6/30/08) to $1.2 mil (9/30/08), reduction of $970,000 in 3 months. We are running out of time. The cost of our borrowings has been very high. We need sales and collections soon. It is my opinion that Stuart Fine should be removed. But what about Ken Carlson? He is the sales dept and we have no sales. Does he have the experience to get this done? He owns no stock. Does he have the hunger?
Last add, common shares outstanding has gone from 40.9 mil (3/31/08) to 41.2 mil (9/30/08), an additional 271,200 shares.
Our shares are worth less than 6 months ago. Dilution keeps coming.
There is no amount of "positive news" or "press releases" to offset these numbers. I'm afraid we will be in the 50's for at least another 3 months.
Recent CYRX News
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- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 06/14/2024 08:31:02 PM
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- Form 8-K - Current report • Edgar (US Regulatory) • 05/22/2024 09:10:12 PM
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- Form POS AM - Post-Effective amendments for registration statement • Edgar (US Regulatory) • 12/15/2023 10:09:12 PM
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