purething, I am requoting from memory (but I suggest you read the s-3A in details), they stated there that their monthly burn rate is $350,000 and that they had $410,000 cash on hand (and these must be as of the date of the S-3, so quite recent). In the same document, they do repeat their intentions to raise some $8 MM in additional cash. So right now, (and I believe that they need close to $500,000 to stop BE/A from converting for the first three months of paying down the converts) they do not have the cash. It is possible, however, that the figure of $350,000 burn rate included payments to BE/A, but they did refer to these as operational expenses, so I doubt it.
The point I am making is that there are no "friendly floorless" all floorless are toxic.
Zeev |
