BURN RateGood point Bail - can't help but refer to this again:
"Our goal is to progressively reduce the burn rate from the current $1 million per month through the remainder of Fiscal 2012," said Graeme McRae, Chairman, President & CEO of Bioniche Life Sciences Inc. "In Fiscal 2013, our goal is to eliminate our burn rate altogether and show sustained profitability by the end of that year."
To be invested in this outfit became outright embarrassment.
Who management was is clear, what management we have right now not so BUT
looks like most of initial signs point to more or less similar thing.
Boy..... dream that I'm badly mistaken here........
WHAT A LOSERS!
40 useless staff will be shown the door?
Seriously? You must be kidding. Obviously it's better than nothing BUT:
if last 15 years of history with Endless failed hopes are any indication at all
then this P OS corner outfit is heading straight to eventual collapse.
So what about other 100 useless mouths who consume our money
and continue to destroy remaining value of business?
So far I see unacceptable weakness in our new management, will it ever change?