The 10K as much as everyone wants to think (including myself) was an abortion. Financially speaking it stated several times that without the FDA approval and getting funded (which it states they aren't and are STILL looking) on a monthly / yearly basis they are in dire straights in honesty. Cadwell is keeping the company going as of now which I am sure scares of nominal shareholders bc at any time he can cut his losses and walk away.(he is 70 years old) It also states that on top of its 10 million in already leveraged debt it will need 1.5 million this year to keep the doors open alone, on top of 8 million (est.) to bring the Y90 to market if approved by the FDA. Ideally making this a takeover a much more difficult acquisition.
Although very detailed and thorough the upside is they apparently aren't trying to hide anything which is refreshing. However, by disclosing the fact they broke the cardinal rule in business and completely stopped all sales and revenue to focus on something that may not get approved probably scared seasoned would be investors as well. At the end of the day if someone came to me in my previous two businesses and said we need to stop the flow money (regardless of size) to work on submitting paperwork to a government agency I would have fired that person. The key to remember here is Cadwell is your star in this company. Jim is a 2 time previous CEO flop (Tesla Vision and Apogee Biometrics) with a track record of taking a company public and generating income for himself. Cadwell is our white knight.
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