They put a lot of effort into buying Codium and now its off the table. It only been since Oct 14th.
I think XPE still want it, but it can be done later, when the OEMs come along (after the chips are in place ! ) and they need mods to the app and develop the application / cloud service to analyse the data.
Also very importantly, maybe the XPE managment team are getting the message about the DILUTION.
If XPE gets the ship deals over the line, the SP will be higher and then they can buy codium for same price, but for far less shares !
I believe still a good reason for the purchase, but no rush. Wait till its cheaper, because the SP is higher.
As primotrader said above, more cash and less dilution. Focus on the main game for now and the 'services' can come later.
XPE will probably still use Codium, but it will not be a dedicated resource/inhouse. In can be down the road.
Dont know if AL was behind the codium purchase. Sounds like a Chris Wood thing really. All the techies together under one roof !
But the free issuing of tens of millions of shares to indulge a master plan this early when shares are in the single cents is a bad idea. Dilution should be avoided at all costs.
XPE Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
