Expect an announcement re financing in the next two weeksAs of the end of 2
nd quarter (June 30, 2022) Spectral had $3,466,000 cash on hand (per their last earnings announcement). The company’s burn rate is approximately $3,000,000 a quarter. That means they will run out of money in October without a cash infusion. Financing for operations going forward will have to be in place by the end of September to cover operating expenses al least through year end.
I believe the company will have to disclose their source of funding by September 9, or sooner. My hope would be that warrant holders will exercise their warrants. I believe there are about 30 million outstanding warrants. Most probably exercisable around 40 to 45 cents a share. If all were exercised they would probably raise enough cash to cover operating costs until the end game.
Exercising of the warrants should not cause further dilution to share value since I believe most of us believe those warrants will be exercised sooner or later anyway.