Omphalos, naked short selling, minor issue if any at this point. CYRX has 2 million in debt, 3 million in cash, the company did $124,000 in sales and had a burn rate of over 1 million last quarter. Unless those numbers change in a dramatic fashion, one, another round of capital will be required, diluting our positions percentage wise even lower, or two, turn out the lights for the shareholders.
The 3rd quarter is shaping up to be another lost opportunity, even if we sign up with FedEx or follow through with DHL before Thursday, our company will have spent another 1 million with-out the revenues to back it up in my opinion.
The company has put their faith in 3rd party transportation companies to do their bidding. The 4th quarter will be key in my opinion. If we can move the process along with one of these third party shippers, will be able to see how one or both couriers contributed to the top line.
Here's the bright spot. The company has about 9-10 million shares in the float, extremely small and volatile.
Any positive news that can signal future revenue growth, perhaps we can get some sort of run. I'M NOT HOLDING MY BREATH, but you never know. Two, if we don't run, at least we can move out the dead wood, setting up for another shot with stronger hands in play.
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