I could be wrong, but I believe that the going concern opinion will based as of the date of the auditors opinion letter, rather than 12/31/2007. This would put the need for a pipe to the end of Q1, beginning of Q2. Hopefully by then a BP deal will be done and defer the need (if any) for a pipe to a much later date.
First post but I've been following COR about 3 years.
A PIPE for the purpose of increasing negotiating strength doesn't make any sense to me at all. Any strength comes from negotiating with multiple BP's, not adding another 6 months cash. I can't imagine that raising another $5M would even cause a BP to blink. They would just come back 6 months later.
As far as a delay from the FDA, what delay are you talking about? What response from the FDA are they awaiting?
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