To recap: On Jan 31, the private placement for $12M printed 2.4M shares at an SP of $5. But the company who bought those shares, took a look at the SP since Feb, and felt ripped off, so today's private placement gives them 5M shares at $1.50... AND RETROSPECTIVELY DISCOUNTS 2.4M warrants from the previous private placement, to an exercise price of $1.50. BECAUSE WHO THE HELL WOULD PAY $5 FOR $GMVD? For a company that brags about windfall revenue of Q1, they sure need to capital raise A LOT in 2022. In other words, this company's Market Cap is $20M, of which $19.5M is from two private placements this year. Tells you what this company is worth. And for anyone who wants to know why the private placement outfit wanted to dilute us more... and way more cheaply... here's the last 3 months. Yes, the period with all that Covid testing revenue. Makes you wonder, doesn't it.
GMV Price at posting:
3.9¢ Sentiment: None Disclosure: Held
