I would think that OCAT would have had to tap Lincoln very recently given OCAT's very low cash position. The latest prospectus balance sheet was actually quite dated, being only current to Sept 30, 2014. That's now 3, almost 4 months ago. OCAT only had about $7 million in cash left then. OCAT burns/consumes about $2 million a month in cash, minimum, meaning they'd be lights out by about now if they haven't been tapping some kind of dilutive financing line.
Also, it's possible that OCAT's ability to qualify for the NASDAQ is actually in worse shape than at first glance- as their shareholder equity may have actually gone negative again by now, rather than the $723K, which does not meet the $4 million minimum to qualify for the NASDAQ.
The only way they appear to be able to qualify to NASDAQ is either by completing the secondary or via a large Lincoln cash infusion- as in probably $4 million for the NASDAQ minimum and at least a few months operating cash, meaning in the neighborhood of $8 million on the low side.
See that cash and cash equivalents of $7.8 million- that's looking in the rear-view mirror by 3 plus months, as that balance sheet is dated Sept 30, 2014. That $7.8 mil is gone and spent by now.
So they'd have had to have tapped some sort of serious financing- as in several million on the low side, and as much as $8 million or more to get to the NASDAQ capital market minimum. Look at their current liabilities, they're $6 mil plus against that $7.8 mil cash, plus month to month salaries, overhead, rent, insurance, lights, power, computers, legal and all the rest. $2 million a month minimum they burn.
They need cash ASAP. They've had to have tapped Lincoln IMO, or that secondary better be placed like real soon- or they'd be out of cash. My guess- they're tapping Lincoln continually right now, like monthly probably.
In days gone by, Rocky301 would contact the TA and figure how many shares the company had authorized to sell and figured how much cash they had on hand. The reality is, as an interested person, you have to assume that this is ongoing and right now we just don't know how much cash is on hand. I would say that Ocat may indeed have increased their cash on hand and therefore does have the required equity for Nasdaq uplist....speculation to the contrary depends on the last available filing...which by now is simply old news.
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