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06/11/19
15:55
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Originally posted by Surandy70:
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Significant capital raising? I think I originally anticipated a raising of $15m to clear debt, to grow the company and cover at least 12 months of costs taking into account their huge cash burn rate. I have reviewed this in light to the cost cutting measures. If Earl goes and the Atlanta facility is ditched then $10m may suffice. This amount would clear debt and give funds to build out their initial Malta facility. Given they already have a Maltese licence they could have first revenue from Malta within six months of raising capital. Payback on the capital outlay to build out their Malta facility is first crop, so subsequent crops, harvested every 60 days would give additional funds for further expansion. I still believe existing holders will be diluted significantly and that a share consolidation is a forgone conclusion.
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Debt to who? Is it valid debt? If Atlanta has been closed for months then staff have gone? Really do want some sort of proof a crop of theirs really was planted and never harvested and just what that land etc has been doing since with " that " partner.