Much interesting info from their 10-Q.
biz.yahoo.com
A few things that jumped out at me:
1."Management believes that it has adequate resources to fund its operations through September 30, 2007. "
e.g., they have no money! And new financing means continuing dilution, no matter how they get it.
2."The net loss from continuing operations for the three months ended June 30, 2007 and 2006 was $(458,442), and $(2,878,627), respectively. " Losses from operations are being substantially cut in dollar terms. Via cuts in SG&A "SG&A expenses for the six months ended June 30, 2007 and 2006 were $1,979,374 and $3,353,518, respectively. SG&A expenses for the three months ended June 30, 2007 and 2006 were $992,245 and $1,906,349, respectively" as well as in R&D "Total RD&E expenditures for the three month periods were $461,405 and $2,023,472 for 2007 and 2006, respectively,".
3. "In addition to the NAVAIR revenue increase, the Sensor Product Groups revenue increased by $79,429 and $108,546, during the three and six month periods ended June 30, 2007, respectively, due to the sale and installation of a BioSentry unit. " Hard to tell if this is really from a single unit or not. I would doubt the selling price of BioSentry is that high. Nevertheless, the increase in revenue here is encouraging.
4. Whether they eventually go under or not, at the moment the market seems to like the release. Exactly why is not quite clear. |
