Well, if the company survives the next 18 (or more) months of capital drought and market mayhem, there might be hope. Liquidity is fast drying up for spec stocks and there likely won't be another opportunity to complete any more CR's in '23. To survive, ICR will need to significantly stem the cash burn and basically go into hibernation mode imo.
You wouldn't want to be borrowing money to keeps the lights on at current interest rates either.
Ann: Results of Entitlement Offer to Raise $2.21m, page-9
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