"Pathetic, but a great deal for those investing directly into the company who are probably provided with a much clearer, current picture than we are."
Funds from direct investors have dried up. The last Report of exempt distribution was dated May 20th, 2021.
Going Concern MD&A dated June 30, 2021:
"As at June 30, 2021, we had $3.2 million of cash. We need to raise additional capital to fund research, development and corporate activities over the next year or we may be forced to cease operations. As at June 30, 2021, we were committed to pay $3.8 million of trade and other payables, $0.8 million for research and development over the next twelve months, and $0.8 million of lease liabilities over the next twelve months. Furthermore, the Company’s $6.0 million debenture with Shenzhen Hepalink Pharmaceutical Co., Ltd. ("Hepalink") is due on May 13, 2022. In addition, expenditures over the next twelve months under cancellable agreements with a contract research organization that will be conducting our Phase 2 COVID-19 trial were estimated to total approximately $2.4 million."
Koo
