Yes-they've paid the bills via PIPES-w insiders/of

Yes-they've paid the bills via PIPES-w insiders/officers buying much of the PIPES from past edgar etc postings i think.

140m shares is a low share count for these co's. I've literally looked at thousands of them. Some have A/S up to 100B

For a co operating this long without net income to have this low of a share count is remarkable and seems to reflect a very cost conscious approach.

Which on the whole is healthy because as i said most co's remain afloat via huge revolving convertibles and other poisonous dilution schemes which eventually destroy the company.

the best pennies after achieving net income,doing buybacks,and rising to ca 1-2 dollars seem to target ca 200m shares from what i've seen-which is NNLX A/S as reported by OTC.

THEY are in the business and have the experience re these trade shows so if they consider after doing a number of them that they are not cost effective then fine because now they have other approaches.

increased sales to various parties(e.g July?PR), discussions w apparent big boys, govt grant application ca only 2 months ago,recent patents etc in Saudi Arabia Japan Europe etc,and more publications now than 5-10 years ago. They didnt have any of these things when they started the trade shows.

from what i've seen the average dd for a JV is 18 months so penny traders have to cease and desist in thinking in such short time periods re JV's. I've seen plenty of JV's go belly up because of a rush-w the money boys taking advantage every time.

Big boys will take EVERYTHING if u allow them so negotiations are difficult esp in biotech where u have 3 groups to deal with- lawyers, businessmen and scientists.

very few pennies at this pps have such a healthy balance sheet w assets exceeding liabilities ca 7:1 last i knew.
look at thousands of these pennies and u will see at this stage liabilities usually greatly exceed assets with current ratios as low as .0001.

You have to look at total current assets -not just cash -in relation to total current liabilities and NNLX is VERY healthy there for these cos and very healthy other balance sheet ratios.
Almost as if theres been a steely determination to make it without significant debt/dilution or bust.

I saw 1 OTCQB company w only 5k assets and 50M liabilities! How?

Low cash amounts are only part of a story and will often be purposefully kept low in a cost conscious approach w cash being spent only as its available-a close monitoring of cash flows.

Receivables have been over 100k- which is very healthy if they are converted within normal trade standards.They have exceeded accounts payable. In a normal penny at this stage that would be greatly reversed.

When i saw the last financials for the sept 30 period,despite revenue increasing 4x yoy I saw that if they wanted to keep the same healthy balance sheet they would have to cut back on R and D etc during the critical transition from R/D stage to a substantial revenue model. So if thats what they've done and if Michelle hasnt been replaced that makes sense.

re pps,no info co's are targeted by shorters for 3 major reasons so the 1 thing i would do is get out of the no info basement to greatly increase the long investor pool and reduce downward pps pressure. That would take $4200/year OTC news disclosure service fees and additional accounting fees but imo more than pay for itself.

But when u are as cost conscious as they are that can be a difficult decision for them since they havent spent years watching how this works and likely would not recognize the amount of benefits to be achieved,even though they have read scores of pages of regulations re these things. They are scientists etc-not stock market players-so these things would not be intuitive to them.