You stated in your blog entry that the company doesn't need money save to conduct key clinical trials. I'd characterize that as needing money. They are in a corner. They can't do a smart financing with the stock at these levels, they can't use LPC, and they can't fund the Phase III melanoma. What about this is not a corner?As at June 30, the company had cash and cash equivalents of $4.1MM. Less total annual cash salaries of $500K per Provectus principal (but neglecting benefits) equals ~$2MM, and less projected fixed costs, and less certain variables costs, equals a positive number through early August 2013.
Management can wait for the SPA to arrive, for certain PH-10 toxicity studies to be completed, for the end-of-Phase 2 meeting for psoriasis, for more Moffitt data to be released or revealed, and/or for other events to occur before striking an average (at worst) to good or great (at best) license deal, whether dermatology or oncology in China, Japan, India or Australasia to garner the monies necessary to fund and run the pivotal MM Phase 3 trial (or having the share price rise to a point where a focused secondary offering might have merit) and other oncology trials. These events should occur within several months or less rather than several quarters or more.
I do not share your view that management is in a corner.