I'm no conspiracy theorist. In fact, not withstanding FB poor communication skills, he does a remarkable job running/ floating the company with minimal fuss or fee.
However, this announcement is simply embarrassing... the real Covid issue in China occurred only a couple of weeks ago. The placement occurred 24 August. EM lack of payment is poor reflection on Petra capital/ FB due diligence in the process to get money out of China. Lets hope they don't collect the coin if it ever comes flowing! When funding is so critical, this is a fundamental error/ poor lack of judgement on the company (and associate advisers).
I have no doubt, if/ when payment is made, the stock will jump. But we have little insight to this or indeed any other issues with the manufacturing process. Communication remains lacking.
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