AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
"Shareholders could lose their entire investment" in Oxis International Inc., the company disclosed in its second-quarter earnings report.
With cash and cash equivalents almost completely exhausted--just $462,000 on June 30, compared with $4.5 million Dec. 31, 2000--Oxis stated that it no longer has "sufficient capital to sustain ongoing operations." The company also reported working capital--the difference between current assets and current liabilities--of $149,000.
Oxis officials will try to raise capital by selling assets, investments and securing loans, but the outlook is cloudy. Equity financing would likely be significantly dilutive for current …