>>>>>>WARNING<<<<<
If the aggregate market value of our common stock held by non-affiliates of the Company declines below $75 million as of the date of filing of our Annual Report on Form 10-K for the fiscal year ended April 30, 2016, we will become ineligible to make offerings under our effective Form S-3 registration statement until no earlier than the time that such aggregate market value reaches $75 million, at which time we may become eligible again to make offerings under Form S-3. In that event, if it becomes necessary to raise additional capital, we would be required to engage in a private sale of securities or a public offering under Form S-1. However, there can be no assurance that such financing will be available as needed or if available, on terms favorable to us, and may result in higher costs of capital to the Company and higher transaction expenses. Additionally, any such future financing may be dilutive to stockholders’ present ownership levels and such additional securities may have rights, preferences, or privileges that are senior to those of our existing common stock.
PMCB IS CURRENTLY AT $51m!!!!
PMCB = JOKE
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