Best guess on which of these financing solutions is most likely to happen? Regardless of what happens to the pps, we will run out of cash around October if something isn't done.
1. We sell shares or do a PIPE for $7.5mm before the end of the month and that, along with the second $5mm tranche buys us enough cash until about June of 2010.
2. We find a partner to license something within the next 3 weeks. They pay us an up front fee that we use to cover operating and development expenses and the partner takes over all development costs for the licensed product (Bavi or Cotara I assume).
3. Sell Avid
4. Reverse Split, effectively increasing the shares available which allows a larger PIPE >$20mm to be done.
5. Something else - government deal, etc...
If I had to bet, I'd pick number one. The one sure thing is that we need cash in the next few months.
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