Bioasis Technologies Inc. V.BTI

Fierce biotech

[frohlir944]

https://www.fiercepharma.com/pharma/jj-taps-tiny-bioasis-tech-cross-blood-brain-barrier
 

nice to see an article in media

[LOOPA441]

Neither party has shared the financial terms of the deal. Bioasis flagged up financial difficulties at the start of the year, warning investors of “a material uncertainty that may raise significant doubt about [its] ability to continue as a going concern.” At that time, Bioasis said it had enough cash to fund its operation “through approximately May 2022.”

[KayakerBC]

LOOPA441... That looks likes a standard boilerplate warning to me. He's referring to this in the Jan 2022 MD&A... "....Readers should note that the Company currently has an accumulated deficit of $40,087,203 and working capital of $113,630, and for the nine months ended November 30, 2021 had a net loss of $2,393,328 and cash flow used in operating activities of $2,954,868. These

[chrispi]

As KayakerBC already mentioned, this is standard operating boilerplate language when a company has less than one year of operating funds on the books. I've seen it a million times in many small companies. Anyways, astute readers (all those who aren't trolls ;) on this board will know that they still have a $7m USD line of credit with Lind that they can withdraw from at their choosing of