REEcycle Inc is closed because that entity no longer exists, they now operate under the umbrella of: (from REEcycle website)
Personally, I believe the founders of REEcycle are also the founders of REEgenerate, and once established they 'acquired' the REEcycle business for $1.8M i.e. paid themselves a cool $1.8M. Unfortunately, the money doesn't appear to have been used to further develop the REEcycle technology, quote from the annual report ". REEgenerate is still in the process of raising its next round of capital to fund the upscaling of its plant (from a 75kg demonstration plant to a 400kg commercial scale pilot plant).
So, what was it used for? The answer is we don't know, because REEgenerate is a private company (detailed company information not publicly available), and RR1 as a 10% shareholder have failed to provide a diligent level of communication on the status of our $1.8M investment with their shareholders.
We knew round 2 was going to be another fail, the sell off happened weeks ago. Echoing the voice of others, we have a gold MRE at Blue Heaven which the market currently values at $0.00, start mining to pay for the next rounds of exploration on hopefully more prosperous land.
Time to pull a lever Jeremy.
RR1 Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
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