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Posted On: 01/08/2021 1:28:22 PM
Post# of 151694
According to the 10Q released today, CYDY negotiated with Samsung for non-standard payments. The paragraph from the 10Q is below. This means the $29 million on hand is for operating costs, which will last at least 2-3 more months, especially now that the S/C trial has concluded.
“During the quarter ended November 30, 2020, in connection with the Samsung commitments as described below in Note 10, the Company negotiated non-standard payment terms for certain payables. The agreed upon payment terms resulted in due dates beyond one year of our reporting date. The non-current accounts payable balance as of November 30, 2020 was $34.3 million.”
“During the quarter ended November 30, 2020, in connection with the Samsung commitments as described below in Note 10, the Company negotiated non-standard payment terms for certain payables. The agreed upon payment terms resulted in due dates beyond one year of our reporting date. The non-current accounts payable balance as of November 30, 2020 was $34.3 million.”
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