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Vision-Sciences Inc. Message Board

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  • mo_fu_broke mo_fu_broke Aug 12, 2010 8:09 AM Flag

    Very Discouraging - VSCI will within 1-2 year

    Oh, by the way, here is the clip from the 10-Q from the company's own CFO:

    We have incurred losses since our inception, and losses are expected to continue through at least fiscal years 2011 and 2012. We have funded the losses principally with cash flow from operations, funding of advances under the Loan, proceeds from public and private equity financings, payments from Medtronic related to the sale of certain assets related to our ENT EndoSheath technology business, and the sale of other assets. We believe that our cash, short-term investments, and $0.5 million of capital available, subject to certain conditions, under the Loan will be sufficient to fund our working capital, capital expenditures, and future operating losses until September 30, 2011. However, if our performance expectations fall short (including regaining sales or profits historically generated from Medtronic) or our expenses exceed expectations, we will need to either secure additional financing or reduce expenses or a combination thereof, and in such instance, the failure to do so would have a material adverse impact on our financial condition. There can be no assurance that any contemplated external financing will be available on terms acceptable to us, if at all, or we will be able to reduce expenses.

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