Tripath Requires Immediate Financing (TRPH F4Q05 Conf Call Quotes)

Digital audio amplifier maker Tripath Technology (TRPH.PK) reported fiscal 4Q05 loss of $1.5 million on $3.5 million in revenue. The stock is now trading on the Nasdaq Small-cap Market at about $0.25 a share, and according to these statements from CFO Jeff Garin in the conference call, is in need of immediate financing if it's to remain afloat -- and that's not a sure thing:

I'd like now to give you an update on financing. We have recently completed a 6% senior secured convertible debenture financing which was provided the Company with net proceeds of $4.8 million of working capital…

We will need to raise additional funds to finance our activities through public or private equity or additional debt financings or through the formation of strategic partnerships or alliances with other companies.

We may not be able to obtain additional funds on terms that would be favorable to our stockholders and to the Company or at all. With regard to our listing status, we conducted our hearing with the NASDAQ listing panel this morning. We expect to hear from the panel in the near future regarding our request of an extension of time for the Company to correct the identified deficiencies. We expect to hear from them within the next few weeks.

(Quotes are from the CCBN StreetEvents transcript.)