Re: ... events section now updated... Where's the $$$ coming from
posted on
Mar 31, 2017 11:40PM
I'm not big on fundamentals as most probably know....except perhaps in a contrarian way. But regardless I saw some interesting posts on SH, the thrust of which I'll share here:
According to the MD&A released March 17th of this year.....it would appear the company is very close to being broke, tapped, nothing but lint in the wallet.
Apparently the cash burn rate is in and around $3 million per month.....okay. Then comes this:
"As at January 31, 2017, we had $4.9 million of cash, $5.4 million of trade and other payables, $1.0 million of accrued interest and were committed to pay $5.6 million for research and development and $0.8 million of lease obligations over the following twelve months..."
So that's less than $12 million as of the end of Jan....and if the burn rate of appx $3 million is continuing, then we're looking at having about $6 million if they're able to tap into the $5.4 million of trade and other payables and the $1 million of accrued interest. If not.....then we're either at the wall or dang close, like a few baby steps away.
No commentary from me.....any thoughts anyone?