May. 8 at 3:47 PM
$NRSN
NeuroSense is facing a severe crisis.
The latest financial reports reveal a critical cash shortage, with only
$200 K left in the bank against
$11 million in annual expenses, indicating a runway of just a few weeks. It’s clear that without funding, the company’s only way to keep its head above water is by diluting existing shareholders, as previously announced a few months ago- up to an amount of
$150 million.
The second issue is a total lack of transparency from the company's management, led by Alon.
Since the publication of the deal with "Big Pharma" company, the only updates we’ve received have been stammering during periodic conference calls.
The constant delays in the timeline demonstrate the company’s inability to meet its own goals.
What on earth has the company been doing for the past months? And how do they have the audacity to award themselves stock bonuses at the expense of existing investors when the company hasn't made any progress in the last two years?
