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Affymax, Inc. Message Board

  • godwinpeak godwinpeak May 16, 2013 12:08 PM Flag

    AFFY's Net Cash as of March 31, 2013 is just $5M - But Makes No Difference to Ebullient Longs

    From AFFY's 1stQ 2013, AFFY has just $5.064M Net cash calculated as follows:
    Cash and cash equivalents, plus Short-term investments, plus Long-term investments = $55.049M
    Less: Total fixed contractual obligations of $49.985M = $5.064M net cash available for operation

    I bet AFFY will use its $5.064M to pay its officers' termination compensation, its other employees what is owed on their termination, and to pay TBG and its lawyers for their services, including Chapter 11 proceedings. AFFY will have a difficult time surviving the next 2 - 3 months IMHO.

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AFFY
0.0916+0.0065(+7.58%)Jul 31 12:37 PMEDT