Shared by
beno
Fundamentals
Shares Outstanding: 36.4m
Cash: 23.6m
Current liabilities: 12.1m
Current ratio: 10
NWC (total current assets - total current liabilities): 109m
Monthly Burn rate (net cash used in operating activities / months): 5.3m
Estimated current cash: 15.6m
Accumulated deficit: 125.2m
Book value per share (Stock holder equity / Shares outstanding): 3.01
S-3 for 150m shares, no recent dilution, dilution of 8.4m shares earlier in 2019
Technical Analysis
-Consolidation between 7 - 12 all year
-Gap down from 8 to 2.5 on news
Catalysts / News
-Phase 3 RTB101 didn't meet primary end-point (yikes, lots of money wasted)
Original Plan / Strategy
First Test strategy at 1.86 level in PM
Review
Put my fantasy orders out there, got filled on pop up, had a quick spike up to 1.97 to shake out all the weak shorts then tanked, tape was very weak overall.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2019-11-15 09:15:23 | TORC | sell | $1.850 | short |
| 2019-11-15 09:15:33 | TORC | sell | $1.860 | short |
| 2019-11-15 09:17:24 | TORC | buy | $1.730 | 0 |
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