Almost zero net cash - look out below!

Bionomics has been splashing out on fancy salaries and bonuses as well as clinical trials over the last year. The balance sheet look frighteningly weak to me! If the company does not sell the oncology assets pretty soon, or Merck starts another trial on BNC 375 to trigger another milestone, the Deborah and Errol will be getting out the begging bowl s again. Not what we led to expect? On the current trajectory a cap raise is nearer than we thought. Perhaps this explains share price weakness. The handling of their cash and the hopeless communications from the CEO and Board warrants further major change to who runs this circus. Say goodbye to Hollywood!