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Re: Resverlogix Closes Extension of Maturity Date of Loan and Announces Private Placement
FYI, Resverlogix posted their September RVX Fact Sheet. With a cash balance of ~$1.4 MM as of 8/31/17 and a burn rate of ~$2.8 MM/month as of 8/10/17, it sounds like this private placement announced in the news release today was much needed. Unless that burn rate is reduced, this private placement of ~$4.5 MM isn't going to last too long. $1.4MM + $4.5MM = $5.9MM. $5.9MM / $2.8MM per month = 2.1 months.
