The new financing doesn't make a whole lot of sense to me. How does this supplement capital requirements if the loan starts amortizing in 12 months? The average maturity is only 2.5 years or so -- which is when they will need most of the capital. If it is for acquisition financing -- then why not wait until you have an acquisition -- then you will understand capital requirements better. Presumably they would look to acquire something pre-clinical -- or in clinical trials -- which would not be cash flow positive for years, I just don't get it.
I have been away from the Board for a while. Has there been any indication from management of a willingness to reduce their own comp in addition to reducing staff? For anyone to invest (or me to reinvest), I would need some sign that the management team isn't just dragging this along for a paycheck. You see this far too often in microcaps with a cash balance.
Highly irregular for OCLR not to drop after an earnings report (for good reason, of course). Long time holders know this too well. Perhaps the stock traded off earlier because the market was convinced it would disappoint.
Another interesting experience will actually being able to understand the conference call.
Dan Niles was on CNBC this afternoon trashing GOOG again -- which he has been doing since it was in the 600s. So pathetic that CNBC gives a platform for these buy-side analysts to tout the stocks in their portfolio as if they were independent experts. At least publicize how terrible their track records are!