They had $1.8M cash on hand and $2.2m in hpq shares to sell as of Dec 31. Since then they received the $667k payment. If you round up that's $5M total if they sell all the HPQ shares, or 4-ish months of runway. Maybe 5.
Unless I'm missing something by the end of this month they should be getting close to $0 cash and $0 "strategic investments" left to sell.
HPQ owes the $3.5M due end of June but they have no cash, and no realistic way of raising that much cash. Their last financing raised $600k I think?
Looking at the numbers it's my opinion that this company's future hinges ENTIRELY on them collecting that $8M for the Drosrite this quarter. If they don't collect that (or at least a good chunk of it), I don't see how they will continue operations.
Thoughts?
