Already Done OR Could NOT find and investor and HAD to take a Loan ?
Interesting, is this a quote:
x ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2012
""" Management, with the advice and consent our Board of Directors, has taken actions to attempt to raise additional funds from sources that are in alignment with our business objectives and strategies, in order to continue operations beyond April 30, 2013. """""
In November SEC FILING it was the same but for the date:
""" Management, with the advice and consent our Board of Directors, is taking actions to attempt to raise additional funds in order to continue operations beyond March 31, 2013 from sources that are in alignment with our business objectives and strategies. """""
---- I guess we will find out tomorrow
c) BMW or NSC payment ?
Where did they get the money ?
I imagine it had to be a loan, that any of these other things would be
so material they would have to be announced.
As of 12/31 they had enough cash to last thru 3/31, after that they rely on cash equivalents which can stretch them for another month or so. It is a bad situation to be in, seeking financing and liquidating cash equivalents in order to continue operations. This is similar to the jam PLUG was in when they got last minute financing. Last minute financing deals are brutal to shareholders. You could lose 75% of value, if they even survive this round. Facts Petersen probably wont be addressing in any alpha posts.
This ain't no bashing either, just a reality of developmental stage investing.