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clock Created with Sketch. 06/06/18
09:11
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Originally posted by Sojourner
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I hope there is a big pick up in sales growth, and soon because they are in desperate need of it. At the end of last quarter they had around only around $13.5m in cash and treasury securities.Management expects operating losses and cash flow deficits to continue for the foreseeable future . The Company’s ability to achieve profitability is dependent primarily on its ability to gain market share in the U.S, build and maintain manufacturing capacity to support commercial launch in the U.S. and obtain a more profitable per unit manufacturing cost for its products. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for at least a year after the issuance date of the accompanying condensed consolidated financial statements. The Company plans to address these conditions by raising capital through equity or debt financings, or a combination of both, from outside current and new investors and institutions . There is no assurance, however, that the Company will be successful in raising the needed capital and, if funding is available, that it will be available on terms acceptable to the Company. The accompanying condensed consolidated financial statements do not include any adjustments that may be needed if the Company were unable to continue as a going concern."
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Everyone knows they need to do a CR. I think the "outside" is a typo and they mean current and new investors. I have never heard of a company refusing to allow their existing insto's to participate in any CR - sure us little guys get overlooked all the time, but never the instos.
(20min delay)
