| My reading of the financial documents is that they still have financing secured to maintain operations, they still have contracts in place, they still have an R&D activity, and most recently (as described in the notice of delayed 10K) they were even running a positive operating balance (unaudited), compared to prior loss. Note, that they also closed another business line in March, their Microelectronic Systems, because the primary contractor no longer wanted to subcontract the work. Note, too, this was mostly a job-shop activity that really did not interface well with the new technology portfolio and had no real potential to contribute to growth. That means they can focus more on potential growth areas like Biosentry. Trials have only been underway for months, and it would be early to hear outcomes at this stage. I would not presume no news is bad news yet. Question I always ask myself at this stage, however, is why with such a small market cap, a venture group does not take them private or another company does not buy them. I suspect that will happen the moment someone really needs their technology: just buy the company... |
