Investors Hangout Stock Message Boards Logo
  • Home
  • Mailbox
  • Boards
  • Favorites
  • Whats Hot!
  • Login - Join Now!
Innovation Pharmaceuticals IPIX
Posted On: 11/19/2012 10:48:36 AM
Post# of 72446
Avatar
Posted By: BigJeff

CTIX cash position: (Not a real concern of mine) From 10Q


As of September 30, 2012, the Company had a cash balance of $124,865. The Company will need to raise substantial funds in order to execute its product development plan. Based upon our expected rate of expenditures, we currently do not have sufficient cash reserves to meet all of our anticipated obligations through our fiscal year end of June 30, 2013. The Company may seek to raise capital through an offering of our common stock or other securities of the Company.


On May 8, 2012, the Company entered into a subscription agreement for Series A Convertible Preferred shares with an accredited investor for an aggregate of $1,000,000.


As of September 30, 2012 a total of $400,000 Series A Convertible Preferred shares were subscribed too and there remains a balance of $600,000 for the Company to draw upon in installment funding per the agreement.















(0)
(0)









  • New Post - Investors HangoutNew Post

  • Public Reply - Investors HangoutPublic Reply

  • Private Reply - Investors HangoutPrivate Reply

  • Board - Investors HangoutBoard

  • More - Investors HangoutMore

  • Keep Post - Investors HangoutKeep Post
  • Report Post - Investors HangoutReport Post
  • Home - Investors HangoutHome
  • Mailbox - Investors HangoutMailbox
  • Boards - Investors HangoutBoards
  • Favorites - Investors HangoutFavorites
  • Whats Hot! - Investors HangoutWhats Hot!
  • Settings - Investors HangoutSettings
  • Login - Investors HangoutLogin
  • Live Site - Investors HangoutLive Site