|From: theMagician (Rep: 6177)||Date: 08/10/2017 10:30|
|Forum: Wall Street Pit - Msg #2686403 - List ARGS msgs ||Thread #673944962 (Rec: 2) |
| In an at-the-market offering under its sales agreement with Cowen & Company, LLC (“Cowen”) in June 2017, the Company has raised proceeds of $4.9 million through the issuance of common stock as of August 3, 2017, of which $4.6 million was raised subsequent to June 30, 2017. However, even taking these measures into account, the Company does not have sufficient cash resources to pay all of its accrued obligations in full or to continue its business operations beyond September 2017. Therefore, the Company will need to raise additional capital by the end of September 2017 in order to continue to operate its business beyond that time|
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