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Biotech / Medical : Apricus Biosciences -- Ignore unavailable to you. Want to Upgrade?

To: OldBoar who wrote (1590)	12/17/2015 11:58:43 AM
From: Mirror Image	Read Replies (1) \| Respond to of 2026

But, the part I am missing is what is actually meant by: "As of September 30, 2015, net open purchase orders totaled approximately $8.3 million." ??? My understanding of that entry is that Apricus is committed to purchase supplies and/or services in that amount - as of that date. It doesn't necessarily mean that it's entirely over and above the 4m/5m cash burn that they already go through per quarter. But maybe some of those expenses are. I don't believe there is a way that we can figure what is included in the "normal" cash burn and what is over and above. Also, it doesn't necessarily mean that this amount is due right away. It can be due 6 / 9 months from September 30, 2015. It just means that a price was agreed upon for supplies and or services - and that an order was placed. When it's due - depends on the terms agreed upon. By the way, this 10Q is not the first time that language of this type is used. You can go back and look at previous Quarterly reports and find similar language ( the amount does vary though ). 2Q 2015 10Q Based upon our current business plan, the access to additional capital under our committed equity financing facility with Aspire Capital Fund, LLC (“Aspire Capital”), the $10.0 million borrowed from the Lenders, and the $10.9 million received from our February 2015 financing, we believe we have sufficient cash to fund our on-going operations through the third quarter of 2016. We expect to have net cash outflows from operations during the remainder of 2015 as we further our Phase 2b clinical trial for fispemifene that began in June 2015, continue to develop Room Temperature Vitaros®, complete our Phase 2a clinical trial for RayVa™, and incur other operating expenses. As of June 30, 2015, net open purchase orders totaled approximately $6.4 million. 1Q 2015 10Q Based upon our current business plan, the access to additional capital under our committed equity financing facility with Aspire Capital Fund, LLC (“Aspire Capital”), the potential to borrow an additional amount of up to $5.0 million under our credit facility with Oxford Finance LLC (“Oxford”) and Silicon Valley Bank (“SVB”), and the $10.9 million received from our February 2015 financing, we believe we have sufficient cash to fund our on-going operations through the second quarter of 2016. We expect to have net cash outflows from operations during the remainder of 2015 as we initiate a Phase 2 clinical trial for fispemifene, continue to develop Room Temperature Vitaros®, further our Phase 2a clinical trial for RayVa™, and incur other operating expenses. As of March 31, 2015, net open purchase orders totaled approximately $3.6 million. Hope this helps.