Doesn't look to good to me. Over $2 mil to go out the door this quarter and only $120k in net receipts with only $1.3 mil in bank.
If the underwriter of the $4 mil in bonus options doesn't pay up then this company is finished. Whoever the underwriter is will be taking a bath immediately. I wonder if there is any escape clauses.
Even if they pull the $4 mil in then that will only last them another 2 quarters.
This company is a cash pit.
SP1 Price at posting:
3.3¢ Sentiment: None Disclosure: Not Held