VentriPoint Diagnostics Ltd V.VPT

RE:Financials anyone? Cash runway?

[GrahamB]

GrahamB wrote:

 

Just working through the financials , and calculating liquidity and cash burn

Would love to have others insights so I can learn
 

I am here because I heard about the company on another board, and put in the work to learn so I benefit in my growth as an investor continuing to analyze, since there aren’t any analysts following and it’s a chance to work through the financials 
 

So...

If Net cash used in operating activities 1,974,232 from cash flow statement over last 6 months the monthly cash burn rate is approximately $329,039.

Cash and cash equivalents $305,615 from June 30,2024

So, the cash will last for approximately 0.93 months, or roughly 28 days, if there is no further revenue so in August -how could they operate?

 

Going back to the financing update on July 2,2024 :” further to Ventripoint’s press release dated May 13, 2024 announcing the closing of the first tranche of the previously announced non-brokered private placement (the “Offering”) of unsecured debentures (“Debentures”) which raised gross proceeds of $941,000, Ventripoint is pleased to announce it has closed the second tranche of the Offering with gross proceeds of $184,000.

In total, Ventripoint raised an aggregate of $1,125,000 pursuant to both tranches of the Offering.”

 

2024-07-02 | Ventripoint Announces Closing of Second Tranche of Non-Brokered Convertible Debenture Private Placement and the Extension of the Offering | TSXV:VPT | Press Release

 

So how much of this was included or not?

On June 30 financials 1,004,457 was the net cash that included the 1,125,000 Issuance of convertible debentures

So I would think that unless any sales came in or additional revenue that the well is dry or almost dry without the financing ?

 

Any thoughts apredicated 

 

This is for entertainment and education-mine mostly 

Do your own due diligence.

Talk to your financial advisor which I as, not and dont trust my advice, nor anyone on a stock 

 Additional relevant notes on the liquidity situation form sedar:"The Company  had a negative working capital of $1,149,698  at  June 30, 2024  (December 31, 2023  –

positive working capital of $240,094).  Based on the rate of expenditure, the Company does not have

sufficient cash on hand and will have to raise equity capital in the near term in amounts sufficient to fund

both general and administrative costs and working capital requirement”

 

At  June 30, 2024, the Company had $305,615  in cash and cash equivalents (December 31, 2023  -

$1,294,346).

The Company has minimal revenues and therefore must utilize its funds obtained from the equity financing

and other financing transactions to maintain its capacity to meet ongoing the  commercialization of

VMS+3.0."