They can’t survive by merely fine tuning the huge cash burn.
Still burning $1 per Q. Projecting over $1mm next Q excluding planned investments.
I can’t say I like the look of their new investments either.
So the game looks like eating all the worthwhile bits of the portfolio whilst also borrowing via convertible notes.
I can see a stage where the CN holders are left with most of any residual value and the task of biting the bullet and removing the heads from the trough.
Disgusted,
EL
PVL Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held
