RE:RE:RE:RE:RE:RE:Information voidDJDawg wrote: I think that the 1.5 million is not a coincidence. The other company that I saw that did this (LIFE switched into PP) just converted all the LIFE buyers into the PP as the pricepoint was the same.
So my bet is that raise total will be 1.5m.
If monthly burn is 400k (my notes) and they have 1m from before that means that can roll 6m.
That will cover BTD which I believe will be succesful.
So overall, I'm not worried about cash situation for the near term.
Yaaaaaaaaaay. We are good to gooooooo (said in the least enthusiastic way possible)
Rather prescient call there Dawg! If we use the details from the LIFE offering, the minimum of $3.5M + $1M working capital was expected to last through end of 24. So, $4.5M for a 14 month long runway is about $325K per month or roughly $1M per quarter. So, with $1.5M proceeds and the working capital they should have almost enough cash to get through Q2. It's fair to say the company's future likely rests on getting BTD approval in 1H 24.