There is a bit of mixed new in the announcement but I come away with a net positive.
I'm a bit worried about the impact of delays/underachieving their cost savings, and lower than expected revenue, requiring more cash than they can get.
BUT, I feel slightly more confident they have alternative funding lined up and that it will happen.
Still far from certain, and I'm not going to suggest anyone consider investing in this unless they have a high risk tolerance, can risk manage, and can accept a complete loss of their capital to even consider it.
The risk reward for those that can however, does look very compelling. Tails you lose, but heads you can win... A LOT.
CRN Price at posting:
10.5¢ Sentiment: None Disclosure: Held
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