Why are some investors here valuing the company based on sales such as "$12m for a $6m mc company"?
Bottom line here is they are burning cash with a terrible looking balance sheet (negative equity now) and the co-founders are paying themselves over $900k in salary. It makes me think where their interests are at regardless of their huge ownership in the company.
At $0.10, they wouldn't want to CR to dilute shareholders and banks wouldn't loan them any cash.
The question now becomes where are they going to get the cash?
What are existing shareholders here looking at that I'm not? To me, this company might go bust within 2 years if they don't grow sales fast soon. Not 10-20% growth but 40-50% growth which is where a tech startup should be growing at.
EN1 Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
