RE: Brad on burn rateHe said that they expect the burn rate to be stabilizing over the next two years at about C$600,000 per month, which is a little higher than they have been over the last quarter.
i'm sure they will want to cause the exercise of warrants to raise another $1.5M and to that end do what they can to get the stock well above the $3 exercise price.
that would give them a little breathing room (but not much) to operate for another quarter, and perhaps give them additional time to possibly issue further interim results and hopefully have those help drive the price higher to then do a financing.
the $6.8M cash at March 31, 2003, less $1.2M for April & May, leaves them with $5.6 at the end of this month (or about 9 months of cash left.)
i think they need to get the warrants exercised soon. the longer they defer a financing, the more they expose the company to market manipulation, especially if they experience more delays in trials, issuance of results, etc.