As expected Things continue to bubble along with so much promise. Sales are soaring and the share price is ascendant. LOL. Also, Tear 1, another funny.
I feel it's time once again to review the monies. When they last reported Yfi was flush, with a full $450K in the bank. That's a lot of salad for a plucky little start up.
But as time will do, it's moved on and now 3.5 months later the cash pile is sadly smaller. How small? Can't know exactly, but we do know in the first 6 months yfi burned about $500K in operating and about $500K paying down debts and prepaying expenses. So they are burning at a base $250K per Q. Taking into account the base and base+ scenarios they have somewhere between $170K and -$55K in cash. Surely they must have some money. But unless they have de-hired the recently hired and/or cut elsewhere, they have about 6 weeks of cash left at the last 6 month burn rate.
This can only mean that Andy must be burning up the phone lines. It's PP time. Always a fun event when you have a whole $.005 cushion to offer your targets. Also no fun, trying to move 20M units to raise a whole $1M. Enough to keep the doors open, not enough to do any real business. Quite the conundrum.
It is interesting to note that the Tear 1 has now done zip in terms of making a commercial deal a full year after they apparently did a ground breaking POC. Only in Yfi land do things take so long. In the parallel wifi universe, the one where business actually happens, a ton of things have transpired during this period of time.
So I guess we are all on pins and needles knowing Yfi could potentially be in the cusp of another huge announcement to pop the stock and grease the launch of the expected PP. Personally I think they're going to have to do better than another POC/Pilot/Testthatdoesnothingbutreiteratethesame oldnews. Which means they need a commercial transaction.
Good luck with that.