RE:$ 25 to $ 30 million ? are you high on drugs or something?
at 33 cents I'd say the chances of the over allotment being used is 0-0.0001%.
the stock needs to go up almost 100% from here for the warrants to be exercised. Good luck with that happening in the near term.
baxter $6M. Where is this imaginary number coming from.
the only thing we are sure of is the burn rate.... which is set to increase. We are also told that 6 people have been enrolled in the last 2 1/2 months at what the company considers enhanced (extremely good). You can do the math yourself on how much cash is needed until the end. We can feel relatively safe that they don't need a financing until next spring (after that the clock starts ticking again) but even that is subject to change.
mercedesman wrote: Is the possible amount of cash on hand plus what may be coming in over the coming Qtrs.
$ 13M COH (after the recent $ 10M raise)
Other possible sources:
- $ 1.5M on over-alotment potential (that'll be interesting to watch)
- $ 6M on exercise of about $ 12M new warrants (at .50) assuming SP goes back up over $ .50
- $ 6M+ from Baxter (2nd tranche, on Interim Data review). Redacted but educated guess.
Assumes no new cash on Sales $ coming form SAMI, EAA, etc. (Aren't we hiring?)
Also assumes nothing from Baxter on the final Tranche. (another $ 6M CAD $)
Total of above $ 26.5M
In the First 1/2 of 2021 they burned through $ 4.2M in cash (from Operations, excluding the effect of the .45 warrant financing of $ 3.2).
Lets say that increases to $5M/Half year (or $ 10M/year)
The math suggests, that if the extra $ come in (as above) that there would be a minimum of 5 "Half" years worth of cash ($ 25M/5). Or 2.5 years worth. That would take us to Feb, 2024.
Also assumes no new cash on Sales $ coming form SAMI, EAA, etc. (Aren't we hiring a Mgt team & salespeople ?)
It would seem that Mr. See-to-it is hihgly risk averse, and doesn't like the idea of being caught with little to no cash. I would strongly suggest that he is now more than covered until we get well past the next two critical FDA D-days (now forecasted by the Co. to be 2022).
MM