RE: Q1 2012 Results Out...Couldnt' disagree more 2guys - that's some pretty negative spin.
You might want to read that same press release you just posted, namely these paragraphs:
At July 31, 2011, the Company had gross resources available of up to $6.5 million, which were comprised of $2.9 million in cash and short-term investments, and up to $3.6 million in funding receivable in the future from contracted government and corporate funding agreements. After deducting $1.5 million in current liabilities, the Company had net resources available of up to $5.0 million at July 31, 2011.
The Company presently believes that the above combination of funding sources should be sufficient to continue funding its "Baseline Operations" until March 2012 (as defined in the MD&A for Q1 FY12). In the Company's previous MD&A for the year ended April 30, 2011 it had expected that such funds would be sufficient to fund its "Baseline Operations" until January 2012.
So, basically, what we now know is that while we are spending money, our revised projections show that we are further away from running out of money. Which means longer runway, which again means more time for the market to realize how undervalued this company is.
I look forward to your thoughts.
Cheers, and good luck!
WillPelly