Terry, I was looking at BICO again this week to see what is happening and I found this in the latest 10Q:
<<Cash increased from $ 125,745 at December 31, 1998 to $1,971,271 March 31, 1999 attributable to proceeds of $ 5,770,000 from the Company's public offering and to the Company's $ 3,715,755 net operating expenditures. The Company also had net cash provided by investing activities of $ 114,518, which includes proceeds from the sale of property.>>
In effect, BICO was broke at the end of 1998 but was able to raise 6 million dollars by issuing more stock. However, of that $6 million, they have only $2 million left! In other words, they spent $4 million in the first 3 months of this year!
Interesting stuff!
Tom |
