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Neuralstem, Inc. Message Board

  • baronkimble May 11, 2010 11:18 PM Flag

    5,163,956 shares dilution (SEC filing).


    "This prospectus relates to the resale of up to 5,163,956 shares of our common stock being offered by the selling shareholders listed on page 11. We will not receive any proceeds from the sale of the shares of common stock by the selling shareholders.

    Our shares of common stock are quoted on the NYSE: AMEX under the symbol “CUR.” On April 2, 2010, the last reported sales price of our common stock was, was $2.02.

    Our principal executive offices are located at 9700 Great Seneca Highway, Rockville, MD, telephone number 301-366-4841. "

    Float is currently 37.51M shares, so this will be roughly a 1/6 dilution. Note how the shareholder gets NOTHING, or $0.00

    Let's continue..

    "Since inception in 1996 and through December 31, 2009, we have raised $62,551,375 of capital and recorded accumulated losses totaling $67,566,831. On December 31, 2009, we had a working capital surplus of $892,552 and stockholders’ deficit of $5,015,456. Our net losses for the two most recent fiscal years have been $10,364,363 and $11,830,798 for 2009 and 2008 respectively. We had no revenues for the twelve months ended December 31, 2009. "

    Company has produced no revenues within the past year, yet it is valued currently at 113 million, and run up a huge deficit in stockholders' equity, and has never been profitable.

    Let's continue..

    "Although we have generated some revenue in prior years, we have not generated any revenue from the commercial sale of our proposed stem cell products."


    "We will need to raise additional capital to continue operations.

    Since inception, we have relied almost entirely on external financing to fund operations. Such financing has come primarily from the sale of common stock and the exercise of investor warrants. As of December 31, 2009, we had cash and cash equivalents on hand of $2,309,774. Presently, we have a monthly cash burn rate of approximately $600,000. We will need to raise additional capital to fund anticipated operating expenses and future expansion. Among other things, external financing will be required to further develop our technologies and products, as well as to pay general operating costs."

    They are burning through 600k cash a month, using huge amounts of cash yet no revenues. 2.3M/600k = ~4 months till approach 0 cash, or bankruptcy.

    And the best part:

    " Additional financing requirements could result in dilution to existing stockholders.

    We are not able to finance our operations by generating revenue. Accordingly, we will be required to secure additional financing which may be dilutive to current shareholders. We are authorized to issue 150,000,000 shares of common stock and 7,000,000 shares of preferred stock. Such securities may generally be issued without the approval or consent of our stockholders. The issuance of such securities may result in substantial dilution. "

    Massive dilution off the hope of a dream product with no competitive edge and years of funding/research.

    You all have been warned, the SEC filing was released tonight in after hours.


    This topic is deleted.
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