RE:RE:Future Sources of CashRenoldman, I don't think you are correct when you say "TST is financed to about June 30". The Company said in their news release for Dec-2014 results that they have adequate liquidity to get them "into calendar Q4, 2015."
Here is an excerpt from the news release dated Feb 13, 2015:
"The Conmpany estimates that it has
adequate liquidity to fund its operations and financial obligations into calendar Q4, 2015, but will need to bring in additional funding, through partnerships, equity and/or debt financing to continue its operations
beyond that point."
They go on to say
in the MD&A that they cannot be more precise about their cash forecast because:
- the $3m additional proceeds for the Animal Health sale related to working capital growth is still being finalized with the purchaser.
- The waiver of some of the substantial FDA filing fees is still waiting approval from the FDA.
- Management says the sale of the Vaccine Manufacturing Facility cannot be guaranteed, although they are confident it will happen. The VMC sale was supposed to take 18-24 months. Aug 2015 will mark the 18 month point in the schedule.
I have to rely on the company's estimates because the cash forecast has so many moving parts. The situation is also smoked up by their need to make conservative statements to satisfy their public accountants and lawyers. So I stand by my statement: No equity issue in 2015 beyond issuing shares for exercised warrants
.