August 19, 2024 8:42am
Is BANKRUPCY in the cards as to cash position versus liabilities after ONLY recent financing was CEO loan of $500 K which is all but expended.
OTCQB: HRGN reported a net loss of $2.498 M or ($0.18) per share, compared to a Q1/24 net loss of $2 M or - $0.15 per share. With a 6-month net loss of -$4.53 M or -$0.32 per share.
Cash position of $139 K and a “runaway” that’s OVER?
With Q2 current liabilities of -$2.02 M, a corporate HQ lease that “could” end on 8/31/24
Also, with 18 employees – who will be paying the salaries and ongoing CRO and clinical trial partnerships (outstanding)?
A note re share pricing and trading volume: In 12 August sessions, in 8 no volume was registered. A couple of highlights: previous week: 1 share sell drops share pricing -$0.25 to $2.30; while 8/2 session’s 1 share sale brings down share pricing -$0.32 or -12.80%,
As I have questioned and written, is OTCQB: HRGN a PONZI SCHEME??
Major Holders:
DST Capital, in-house fund: 3,725,825 shares or 26.03%
Harvard Biosciences (HBIO, partnered over legal patient death debt: 697,112 or 4.87%
- Is OTCQB: HBIO dragging down HBIO? …
- 8/13, analysts downgraded their forecasts for this year. Revenue estimates were cut sharply as the analysts signaled a weaker outlook - perhaps a sign that investors should temper their expectations as well.
- Analysts have cut their price target 11% to US$6.25, suggesting concerns around Harvard Bioscience's valuation.
The Bottom Line:
Formerly Biostage (OTCQB: BSTG) and a company that has LINGERED too long in the tall grass with so MANY management changes and employee losses.
Mrs. BIN of DST Capital, how could you have let this happen?
