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Biotech / Medical : Apricus Biosciences
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To: phoenix_rising who wrote (1929)5/9/2016 11:42:07 PM
From: mokelumne river   of 2026
 
There are two swords of Damocles hanging over our investment (gamble if you will), PR. One which you identify is the cash situation. The other is the delisting issue. If I could attempt to conflate three issues: cash, delisting and FDA approval. MI has opined that the delisting issue can be postponed or delayed until next April...or about 12 months from now. At about that time there should be a decision by the FDA on Vitaros. Note, if an FDA approval doesn't get us above a buck a share (if it doesn't happen before then), I don't know what will.

So the immediate issue is the one you identify, where will the cash come from (to get the company through the next 12 months)? As of a month ago the company had $6.9M in cash assets (yes, not much really)...probably needs roughly another $10M to get through the next 12 months. Again, MI points out that the company recently raised $10M selling shares at 88 cents. The dilution associated with raising another $10M, even at these ridiculously oversold prices (IMO), would not be catastrophic. And there are surely other creative financings the company could entertain.

It is a new ball game if the FDA approves Vitaros. We just need to get to that point which is pretty much 12 months from now.
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