Lol did their computer break or did someone steal it? It's not listed as an asset this year...
Please tell me how they spent $3 million in 'Other Administrative'? If it is anything less than a full staff for their new building and a helicopter then they screwed up...Oh wait, it can't be that because they still only have two employees. Maybe they just bought the helicopter...and a few nice cars
With 60mil in deficit if they finalize a product next year they might be able to pay the bills off.
Yes this is an R&D company and they will accrue a lot of debt at startup. The problem is creditors will eventually reach a limit on how much they will lend. Eventually they will run out of funding and have to resort to other methods:
'The Company is undercapitalized, and will be reliant on outside financing from sales of securities or issuance of debt instruments. Management expects many traditional lenders will be reluctant to provide the Company with capital in light of its financial condition and the nature of its expected business; so that any financing activities will likely be expensive and result in dilution to shareholders of the Company.'
Shareholders will and I repeat will be diluted over the next year. I don't see how it is a smart decision to wait a year through that. Let the company adequately finance itself and begin some true R&D operations, then get back in.
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