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Message: Re: Got a reply....
4
May 02, 2017 06:06PM

I sent a follow up reply:

 

Thank you very much for your detailed response, please excuse the acerbic tone of the previous  message. I appreciate you taking the time to address my questions. 

 

The one question that is top of mind for me right now is that of financing, and I understand that you are not at liberty to divulge any information which is not already in the public domain.  What is in the public domain is that, as of Jan 31st the company had about $5 million remaining, and that the burn rate is somewhere between $2 and $3 million per month.  Checking the calendar I see that we are now in May, which means 3 months have passed in the interim.  Even if the burn rate was $2 million per month in Feb/Mar/Apr....that still leaves $1 million short.  

 

During the brief oral discussion of Agenda Item #5 was it explained how the company is continuing to operate given that, at least according to all the publicly available data, the company is out of cash?  

 

How much cash did the company have left at the end of April?  Or if that's too recent, then at the end of March?

 

Appreciate any light you can shed on the matter of how the company is still operating when all the publicly available information says that the cupboard is bare.

 

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