TO states that they have a significant amount of cash. Their publicized burn rate of $100,000 a month over the last 9 months up until March 2008 included the cost of all their initiatives that they have undertaken and completed.
They have been able to cut back on discretionary spending and product testing. TO is insistent that they have enough money and that the introduction of the new products (soon) will help boost the cash flow.
They are in a good position to sit out the storm according to his comments and has said in more ways than one that they would wait for better market conditions before they would consider another financing. I think MMN had a number or two as a minimum SP before they would consider financing.
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