I just read the 49 page 10-Q report
The warrants issued with the stock sale March 03 become exercisable September 03 at $6.50 so that may trigger another 5 million cash infusion(with further dilution too)
Careful reading shows the company had a 6 month loss of $14,157,00 but actual cash decrease of "only" $4,467,000
($15,587,000 minus $4,467,00 leaves $11,120,000 cash)
It means at current burn the company has enough cash for greater than a year
The net loss per share dropped from a 6 month loss last year of $1.12 down to $.86 but pro forma (means taking into account future losses due to stock options etc,)again only 6 month loss ,from last year $1.86 down to $1.17
No loans this year to the top 4 executives which is a good thing
Rob |
