The image below shows how Microbot Medical's balance sheet has changed over time if you want to see the precise values, simply click on the image. That probably explains why the share price is down 25% in the last year. So if it has not already moved to replenish reserves, we think the near-term chances of a capital raising event are pretty high. When it reported in March 2019 Microbot Medical had minimal cash in excess of all liabilities consider its expenditure: just US$3.2m to be specific. While some companies like this go on to deliver on their plan, making good money for shareholders, many end in painful losses and eventual de-listing. There is almost always a chance they will need to raise more capital, and their progress - and share price - will dictate how dilutive that is to current holders. Companies that lack both meaningful revenue and profits are usually considered high risk.
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