Quick Summary of 10Q (no surprises that I can see)
Post# of 157814
(Total Views: 348)
Posted On: 10/10/2025 9:21:32 AM
Quick Summary of 10Q (no surprises that I can see):
Key P&L (Q):
•Net loss: $5.54M (vs. prior-year net income from a one-time Amarex recovery).
•OpEx: G&A $1.71M; R&D $3.23M (R&D up due to the MSS-CRC Phase II).
Balance sheet (8/31/25):
•Cash & equivalents: ~$9.3M (down from $11.9M at 5/31/25).
•Current liabilities: $69.4M.
•Total liabilities: $113.0M.
•Stockholders’ deficit: $99.5M.
Capitalization:
•Authorized common: 1.75B; proposal to increase to 2.25B at the Nov 21, 2025 annual meeting.
•Unissued shares available (9/30/25): ~164.5M.
•Shares outstanding (9/30/25): ~1.260B.
Debt (convertible notes):
•6% notes from Apr 2, 2021 and Apr 23, 2021 remain outstanding; balances at 8/31/25 were $8.34M and $35.44M (total $43.78M).
•Accrued interest (current liabilities): $16.58M.
Legal / regulatory:
•SEC and DOJ investigations effectively closed in Sept 2025; nothing further required.
Going concern:
•Company flags substantial doubt about continuing as a going concern; accumulated deficit ~$893.3M as of 8/31/25.
Bottom line: No revenue; funding need remains significant (equity/debt or partnerships). The authorized-share increase vote (Nov 21, 2025) is pivotal for near-term financing flexibility.
Key P&L (Q):
•Net loss: $5.54M (vs. prior-year net income from a one-time Amarex recovery).
•OpEx: G&A $1.71M; R&D $3.23M (R&D up due to the MSS-CRC Phase II).
Balance sheet (8/31/25):
•Cash & equivalents: ~$9.3M (down from $11.9M at 5/31/25).
•Current liabilities: $69.4M.
•Total liabilities: $113.0M.
•Stockholders’ deficit: $99.5M.
Capitalization:
•Authorized common: 1.75B; proposal to increase to 2.25B at the Nov 21, 2025 annual meeting.
•Unissued shares available (9/30/25): ~164.5M.
•Shares outstanding (9/30/25): ~1.260B.
Debt (convertible notes):
•6% notes from Apr 2, 2021 and Apr 23, 2021 remain outstanding; balances at 8/31/25 were $8.34M and $35.44M (total $43.78M).
•Accrued interest (current liabilities): $16.58M.
Legal / regulatory:
•SEC and DOJ investigations effectively closed in Sept 2025; nothing further required.
Going concern:
•Company flags substantial doubt about continuing as a going concern; accumulated deficit ~$893.3M as of 8/31/25.
Bottom line: No revenue; funding need remains significant (equity/debt or partnerships). The authorized-share increase vote (Nov 21, 2025) is pivotal for near-term financing flexibility.
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LETS GO!!!