- 4DS Memory (4DS) extends a share suspension yet again while announcing steady quarterly spending as it works to develop its computer memory technology
- The company this morning revealed net quarterly cash outflows of roughly $1.25 million over the September quarter of 2021 — only slightly lower than its June cash outflows
- 4DS ended the September quarter with just under $2.9 million cash
- However, shareholders are unable to react to today’s news given an ongoing voluntary share suspension from 4DS pending a “technical update”
- Shares in 4DS Memory last traded at 13 cents each on October 7
4DS Memory (4DS) has extended a share suspension yet again while announcing steady quarterly spending as it works to develop its computer memory technology.
The company announced this morning in its latest financial report net quarterly cash outflows of roughly $1.25 million over the September quarter of 2021. This is only slightly below the $1.27 million of net outflows over the June quarter of this year.
4DS ended the September quarter with just under $2.9 million cash. This means if the company’s cashflow remains consistent in the coming quarters, 4DS will have just over half a year of funding available before it needs a new cash boost.
4DS said over the September quarter, it made the call to abandon four of its older patents that had “no bearing on 4DS’ current business” and were, therefore, deemed to have no commercial value.
Meanwhile, the company locked in its 32nd US patent over the quarter.
Shareholders have been unable to react to today’s news, however, given an ongoing voluntary share suspension from 4DS.
The company initially called a trading halt on October 8, but 4DS entered a voluntary share suspension immediately afterwards, telling shareholders the suspension was “pending the release of an announcement providing a technical update.”
On October 25, 4DS extended the share suspension, claiming it planned to have shares trading once more on November 1.
Nevertheless, the company today extended the suspension yet again, this time claiming the suspension will lift following an announcement on Monday, November 8.
Shares in 4DS Memory last traded at 13 cents each on October 7. The company has a $172 million market cap.