That debt at ANY PPS with this volume is a recipe for disaster. I didn't know we had so much debt here now, wow...I thought Gerald had taken care of this after 3 years.
So the IPO near the end of July will come just in time. Jason N is forecasting $20 million for the IPO but I wouldn't be surprised to see it higher if ESS is closed first. Which it sounds like it will from GC comments last week.
That's not good news. The only strength going into the RS are the pipeline potentials. Too much debt for company this small and unproven. It will be interesting to see how much of AMBS debt is "paid" in shares. I'm watching this but not buying yet. Too much possibility for share dilution. ONCS only did a 1/20 RS and had a much stronger balance sheet than AMBS did going into its 1/150 RS.
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