With ~40 million in the bank now, and ~40 million estimated spend this quarter (it is usually more) there is no cash come Q1 next year.
On a duster the 52 week lows will be tested by years end - make no mistake about it.
Also, with a current MC of 1/3 billion now, how can a share price of 30 cents or a MC of 1 billion be justified? - there is very limited upside here especially with falling oil prices.
There will need to be another CR in Q1 next year at the latest - no wonder they raised so much cash when it spiked on the P&D.
This really looks like another MEO.
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Open | High | Low | Value | Volume |
50.0¢ | 50.0¢ | 48.5¢ | $115.7K | 235.3K |
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2 | 71426 | 0.480 |
1 | 14269 | 0.475 |
1 | 20000 | 0.470 |
2 | 31614 | 0.465 |
Price($) | Vol. | No. |
---|---|---|
0.490 | 4000 | 1 |
0.505 | 100000 | 1 |
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