Reported loss per share .42, better than before but worse than the one analyst prediction of .34. Revenue 0.25M, perhaps on track for first million dollar year after all this time. Management report optimistic, as usual. We wait . . .
Not able to listen to the CC. What did they say that precipitated the after hours selling? Thanks.
Updated for 3Q results:
The 1st Q conf call was on 5/14/20, which was due on 5/15. And no new financing after that.
The 2nd Q conf call was on 7/23/20, which was due on 8/14, so 3 weeks early. 10-Q reported $2.45 million in cash as of 6/30/20.
The end of August, four accredited investors exercised preferred warrants by paying the company $3.5 million. They originally obtained the preferred warrants during the $1.6 million financing deal back in January.
The 3nd Q conf call was on 10/22/20, which was due on 11/14, so 3 weeks early. 10-Q reported $5.51 million in cash as of 9/30/20.
$2.45M cash 6/30 +$3.50M cash increase August ------- $5.95M --total -$4.51M cash 9/30 ------- $1.44M cash spent in 3 months
cash burn rate $480K per month even with new hiring
“cash burn rate $480K per month even with new hiring” but it will likely be 3 times that amount starting this quarter because of the commitments they have recently made with partnerships and research agreements and the like without any additional income to offset.