They can blow through shares at will. Why conserve at all?
Exactly. Given what they sold in 2019, and the cash they ended with ($45K) the burn rate is ~$100K/month. In a 6 month time period they spend $90K on R&D. The rest was for Kenny and his boyz.
They need to file the IND soon.
And how will they do that? Required is $650K. Last 10Q listed $45K in cash. Homie coughed up $150K. That doesn't add up to $650K.
Currently Kenny is struggling to pay himself first. He'll be blowing through a lot more shares in the coming 6-12 months. Assuming he can round up more Homies. Until then the mythical IND will just have to wait for yet another subsequent dilution to be funded.
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