Fred, lets be rational, we now how much money there was as of September 30, we know how much money was raised, we know there is no inventory on the book (at least nothing significant). R&D has remained constant at about $4 MM plus per quarter over the last year, thus "hiding inventory" in R&D expenses is not a rational assumption either.
As for stock sales from option conversion, this is definitely a valid source of funds, do you have an estimate (what were the option priced at and how many were outstanding?). If there were some 3 MM or more at $2/share, sure it could buy another half a quarter. But otherwise, what you are talking about (VLNC having some $10 to $20 MM in working capital) is pure BS, I would suggest you look at the assets/liabilities table of VLNC as of Sep 27 and find these for us. Throwing numbers like that without backing, is nothing short of misleading. Are you sure Fred your name is not Riley? I just came back from a funeral ceremony to the RMIL thread where he used to blatantly invent numbers from thin air just as you do here.
Good luck, and have a very Happy and fruitful New Year.
Zeev
PS, in my calculations I did not take into account any additional capital equipment acquisitions in the third and fourth quarters, since in one of the recent pronouncements from the company, I thought it was stated that capital budgets have been cut. Your assertion that new capital equipment has been ordered (if not included in the $4 MM plus cited in my post for the 2nd quarter) will make the current cash needs even more pressing. |
