Is the possible amount of cash on hand plus what may be coming in over the coming Qtrs.
$ 13M COH (after the recent $ 10M raise)
Other possible sources:
- $ 1.5M on over-alotment potential (that'll be interesting to watch)
- $ 6M on exercise of about $ 12M new warrants (at .50) assuming SP goes back up over $ .50
- $ 6M+ from Baxter (2nd tranche, on Interim Data review). Redacted but educated guess.
Assumes no new cash on Sales $ coming form SAMI, EAA, etc. (Aren't we hiring?)
Also assumes nothing from Baxter on the final Tranche. (another $ 6M CAD $)
Total of above $ 26.5M
In the First 1/2 of 2021 they burned through $ 4.2M in cash (from Operations, excluding the effect of the .45 warrant financing of $ 3.2).
Lets say that increases to $5M/Half year (or $ 10M/year)
The math suggests, that if the extra $ come in (as above) that there would be a minimum of 5 "Half" years worth of cash ($ 25M/5). Or 2.5 years worth. That would take us to Feb, 2024.
Also assumes no new cash on Sales $ coming form SAMI, EAA, etc. (Aren't we hiring a Mgt team & salespeople ?)
It would seem that Mr. See-to-it is hihgly risk averse, and doesn't like the idea of being caught with little to no cash. I would strongly suggest that he is now more than covered until we get well past the next two critical FDA D-days (now forecasted by the Co. to be 2022).
MM