Some interesting numbers from the end of the quarter 10q, most of which I don’t understand. $1M in research and development (to Faction?). $1.3M in revenue but cost goods sold was $2.9M so it was a loss of $1.5M. Loss of $6.9M for the quarter, which seems horribly high.
MD&A. In the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” it states “management has concluded that these (financial) conditions raise substantial doubt about the company’s ability to continue as a going concern at least in the next year.” In other words, they will run short soon and will need an infusion of money. Unfortunately, it looks like they can’t use their equity line of credit until 1 year after their stock sale of January 2023.
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