balance sheet. They lost 1.9 million the last
quarter and only had a couple million in cash.
They have a revolving credit line with Coamerica
but I believe that just got cut in the last week
from 10 million to 7.5 million because they missed
a credit line requirement based on their earnings.
That is why the company just filed a shelf so that they
can raise up to $30 million dollars through issuing new stock
or warrants. When & if they need do this offering it will be at a
price cheaper than the going market price of that day.
This could be highly dilutive to shareholders.
This and the drop in revenue in the last couple
quarters probably best explains the size of the drop
in share price.
Recent BIOL News
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