Market conditions once again take the blame for Nanophases cancelled Shelf Registration (with a registration ‘on the shelf,’ a company can go to market quickly any time within the next two years when conditions become favourable) and takes a hit of $280,000 for the legal expenses.
The company was planning to raise some $15 million, but now claims to be able to support itself via its cash position, which was $608,000 in its Q1 filings.