OccuLogix Inc. provides treatments for eye diseases, including age-related macular degeneration (AMD). The company€™s treatment system, called the RHEO system, consists of an Octonova pump and disposable treatment sets that improve microcirculation in the eye by filtering high molecular weight proteins and other macromolecules from the patient€™s plasma.
OccuLogix reported the following data (in thousands) for the years ending December 31, 2004, 2003, and 2002:

1. Determine the monthly cash expenses for 2004, 2003, and 2002. Round to one decimal place.
2. Determine the ratio of cash to monthly expenses as of December 31, 2004, 2003, and 2002. Round to one decimal place.
3. Based upon (1) and (2), comment on OccuLogix€™s ratio of cash to monthly operating expenses for 2004, 2003, and2002.

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2002 $60,040 1,239 603 Net cash flows from operating activities (5,382) (2,375) (2,126) 2004 2003 Cash as of December 31 Includes cash equivalents and short-term investments.