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PLC Systems Inc. Message Board

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  • scomasea scomasea Mar 30, 2012 4:37 PM Flag

    bottom line plc needs more cash after 4th quarter report

    plc owes more than they have in cash and plc lender did not turn the loan into shares,i don't blame them ,why do that when they can eliminate current shareholders and own renal guard in less than a year unless plc gets a partner or better loan .................plc never borrowed enough...................still plc lender is a mystery who they are ,inside job ? i don't know but current shareholders will be screwed if things don't get better via. partner or a better loaner for sufficient funds

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    • Scoms, my initial cursory skimming indicates that as of Dec. 31, '11, PLC holds over $2.5M cash, with expected overdue payments from Italy for last quarter coming in this quarter; with losses of about $1M for the quarter.
      So, they should have a couple more quarters on present reservoir, but, as you note, have "going concern" problems to face after that. So, hopefully, their new double-consultant team can come up with something: loan, dilution, or sale of company in the coming 1/2 year.

 
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