Post by
jolew32 on Aug 04, 2023 9:47pm
Why hasn't CGN run out of money yet?
At the end of their last fiscal year (to Jan 31, 2023), CGN had $2.2M in cash left after a net cash burn rate of $6.0M for the year (avg $500k per month). At the end of their 1Q (to Apr 30, 2023), CGN had $720k left in cash, they burned through another $1.5M (avg $500k per month). Based on $720k in cash as of May 1, 2023, and using an average burn rate of $500k per month, CGN should have run out of operating funds by June 15, 2023.
So here we are August 4, 2023, and CGN is still operating?!?
Comment by
thearab on Aug 16, 2023 10:12am
jolew-Was that you that dumped a few shares @ $12.50 are you trying to scare somebody.After the signing and approvals I am certain they will not have a problem getting a few funds to keep operating .JMHO.J.J.
Comment by
jolew32 on Aug 16, 2023 10:15am
I'm not selling, Arab. You're missing the point here!
Comment by
thearab on Aug 16, 2023 3:17pm
Then what is the point to inspire you to post what you posted?
Comment by
jolew32 on Aug 16, 2023 4:22pm
The big question is why they haven't run out of money yet? Where is the money coming from to maintain their operations?