The basis is conversations with management and with an outside person that has knowledge of the process. I don't think NW can precisely forecast the date and no one told me gave me a date.
The outstanding application to-do items that I had on my list are done. I have no other to-do items on my list, but my best guess is the application is not yet submitted. So, as far as I can tell, just the final review remains. That's how I get to September.
Somebody(s) was/were exercising warrants the last couple of months. Not to say that’s necessarily Mr. T since there are other financial instruments in the tool box — but he can provide that clarification himself. The company clearly needs cash. So it appears they’re relying on their friends again. September submission means at best approval sometime toward end of year, perhaps into 1Q24. And that likely means the need for further cash infusions over the next few months.
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