Ugly Balance SheetJust reviewed the audited FS. Even with the April hard dollar financing, this is one ugly balance sheet. After the current liabilities and the excessive montlyl burn, I estimate these guys have less than $1.5 million in cash today. Time for the management team to consider real cuts to their salaries. They also record $1.1 million for "shareholder communications" for the year - that is crazy for a junior surviving off of private placments. Cut that to almost zero. Bottomline is we can expect another massively dilutive financing in the next quarter. Not impressed.