The Good News .... Tony did file a 10Q today
OXIS stock closes marginally higher on low volume.
The Bad News....The information in 10Q today.
Cash 50% used up in first 6 months.
ZERO sales in both first and second quarter of 2010.
Expenses balloon to $ 1,222,000
Company loses 1.7 million in first 6 months.
Filing states
Our lack of revenues, our current liabilities of over $5.7 million, and our current rate of cash usage raise substantial doubt about our ability to continue as a going concern, absent any new sources of significant cash flows or outside financing. Although we anticipate that our revenues will increase during 2010 when we introduce our new proposed products, we do not currently anticipate that those funds will be sufficient in the short term to fund our working deficit or to repay our current liabilities. Our financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event that we cannot continue in existence.
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Cash being sucked out, no sales, expenses going through roof, high current liabilities...
Yeah verily .... this is a Cataldo company.
But you OXIS stockholders did the the thrill of seeing Big Tony schmoozing it up with his gal Ines on the Danish Reality show as well as his early May fireside chat about monetizing the assets of OXIS. (Bet you didn't think that second quarter sales would be zero. Well at least they weren't less than first quarter sales. Our second quarter sales held steady at zero, matching our first quarter sales.)
Tony Cataldo = All hat and no cattle
