the company has Accounts Payable of $26 millions, all the Total Current Assets (cash including the recent $12 million, Net Receivables and Inventory) is not enough to pay off $26 millions of Accounts Payable.
Plus, if Q1 already burned $10 millions cash, and Q2 another $10 millions, then the company will need at least $20 millions by the end of June. After that, the company still needs cash for Q3+Q4, and Calcitriol launching in Q1 next year,
bottom line, $100 millions cash is needed in the next 12-18 months before positive cash flow from operation.
excluding R&D, in 2010, $59 million revenue only generated 15% gross profit margin ($9 million), which just barely covered Selling General and Administrative.
no wonder hedge funds shorted big time, each rally will bring more short. we can see
Another short in a gradually building panic mode. There will be a partnership and then watch the "rats" scramble for cover!
Really is English your 4th language -- no grasp of writing fundamentals 101 -- go back in your hole.