Tuesday, May 22, 2012 9:45:35 AM
"As of March 31, 2012, we anticipate that we will need significant financing to enable us to meet our anticipated expenditures for the next 24 months, which are expected to be in the range of $5,000,000 assuming a single Phase 1 clinical trial."
"The cost of funding preclinical and clinical programs in cancer and infectious disease is estimated to be approximately $5 million. Sources of non-dilutive grant funding will also be applied for."
I also did not like the going concern section.
So what are the three finance folks doing? I know of Grant programs for start ups, my friend has been in the White House with the president and met the SBA czar and many others. I should not have to go to my friend on this, there are enough finance folks on the board and as advisors they should be able to do something soon, which I would expect them to.
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