Anyone who has held LNU for longer than a month in almost any time period the past 2 years is now underwater due to dilution.
As I have said before, even if they magically picked up a client tomorrow that was going to pay them $1mill a month, they would still be cash negative and would need to cap raise.
Even if they picked up that one magic dream client, the investor grade market would be saying - awesome but we need a second one just to survive, a third one to grow, and a fourth one to look at divvies down the road.
That's a big ask, it's so much easier for them to just stop wasting money.
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