RE:The 2nd PP
Cash on hand was running low. The delays caused by the over hyped pandemic consumed cash that might have taken us through Ph2. I think it prudent to raise money long before your bank account hits zero. $5 million might cover the next twelve months cash burn. The recently extended warrants and those warrants expiring in January if exercised would bring in another $3.2 million. The warrants from these current PPs if exercised brings in another $7 million. If my math is correct that's $15 million while only issuing approx 27 million more shares. That seems like a better deal than the $15 million for 57 million shares that was raised a few years back. I for one won't wait till the end to exercise my warrants assuming an appropriate rise in stock price occurs from BTD, AA or vaccine. Extending existing warrants is a way of rewarding those shareholders that have helped to support the company all these years, jmho. Add a couple million more for stock options and it would seem like enough cash to get the other two indications up and running.
Keep in mind the accumulated deficit on the financials at the end of 2021 was only $53 million. Big pharma spends that much running their cafeterias each year.