May 10, 2012

10-Q for Q1 FY/CY 2012

The 10-Q is out. Several points of observation:

The cash balance is approximately $5MM as at 3/31/12.

Management does not appear to have concerns over liquidity (i.e., available funds for operations).

Who were these consultants that received more than 1MM warrants?

Payroll looks slightly lower in Q1 2012 vs. Q1 2011, but not materially or by much.

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