CRO raised $1.5m 2 months ago and as of the Sept 30th, they had $667k left.
This indicates they are still burning $400k per month in overhead and have less than 2 months of operating cash left. That would be running things super close and they may need to raise within a shorter period of time. Feel free to correct me.
I am sure that the entitlements offer probably raised very little to anything at all as it was not underwritten and traded straight to a discount.
If these guys come back to the market, i hate to imagine what the next raising would be done at.
