financial situation is much more dire now than at the end of last year. A million bucks on hand for $3 million in non-related accounts payable.
From the 10Q: "At March 31, 2018, the Company’s cash amounted to $1.3 million and current liabilities amounted to $9.5 million, of which $6.5 million were payables to related parties with no immediate payment terms (See Note 8- Related Party Transactions in the Notes to Condensed Financial Statements section below). The Company had expended substantial funds on its clinical trials and expects to continue our spending on research and development expenditures. The Company’s net cash used in operating activities for the nine months ended March 31, 2018 was approximately $10.4 million, and current projections indicate that the Company will have continued negative cash flows from operating activities for the foreseeable future. Our net losses incurred for the nine months ended March 31, 2018 and 2017, amounted to $11.5 million and $10.3 million, respectively, and we had a working capital deficit of approximately $8.0 million and $6.1 million, respectively at March 31, 2018 and June 30, 2017."
where's that knight in shining armor? or even another vulture capitalist?
Why exactly would they do that level of discount to Aspire? Something very wrong with that.
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