Meanwhile, the latest 10-Q of ADPT looks rather contradictory. As of July 1, the company had more assets than liabilities, though it was out of revenues. Still, the management believe their cash balances will be sufficient to satisfy the anticipated cash needs for working capital and capital expenditures for at least the next 12 months.
Nevertheless, they claim that the consummation of the sale of the DPS Business materially changed their operations, including the anticipated cash needs. Thus, the company is seeking business acquisition opportunities and taking other actions to redeploy its capital.
However, the team could be required to fund their cash requirements by alternative financing, which may dilute the existing shareholders.