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Thursday, June 16, 2011 11:45:27 AM
They have +/-$761k cash and their monthly burn rate is +/-$82k.
Further, "they are NOT shutting the doors anytime soon" is not necessarily accurate either.
The Company requires additional financing, the availability of which is uncertain, in order to continue in business. The Company may be forced by business and economic conditions to accept financing terms which will require the issuance of its securities at a discount, which could result in further dilution to our existing stockholders.
There can be no assurance that additional financing will be available to the Company when needed or, if available, that it can be obtained on commercially reasonable terms. In addition, any additional equity financing may involve substantial dilution to our stockholders. If the Company fails to raise sufficient financing to meet its immediate cash needs, the Company will be forced to scale down or perhaps even cease business operations. This may result in the loss of some or all of your investment in the Company’s Common Stock.
In addition, in seeking debt or equity private placement financing, the Company may be forced by business and economic conditions to accept terms which will require the issuance of the Company’s securities at a discount from the prevailing market price or face amount, which could result in further dilution to our existing stockholders.
This can all be verified in IWDM's filing here http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=7865714-946-318962&type=sect&dcn=0001013762-11-001067
A fool and his money are soon parted
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