Pressure BioSciences, Inc. (PBIO) has Finances In Order and Anticipating a Successful 2008
Pressure BioSciences ended the third quarter of this year with $6.0 million in cash. The use of cash by operations matched up with expectations that the company’s cash position could finance operations into the last part of 2008. In March, the company sent a purchase order to Source Scientific, LLC to purchase 20 Barocycler NEP3229 units and 9 Barocycler NEP2320 units. The finished products will remain at Source Scientific until needed, then be shipped directly to Pressure BioSciences’ customers. The company anticipates that all of these units will be completely fabricated and available for sale early next year. Because Pressure…