Ann: Trading Halt, page-10

"Poorly handled by management based on information available as they're raising on weakness."

Not sure management is to blame for the state of equity markets today, and especially when it comes to the savage de-rating of highly-illiquid nano-caps.

It's easy to snipe from the sidelines, but the options facing management were binary:

1.) Continue to limp along, capital constrained, and thereby leaving meaningful revenue opportunity on the table.

Or:

2.) Bite the bullet and raise the capital (albeit at exxy cost) and grab that revenue opportunity.


Each of those limbs of the decision tree has an associated Internal Rate of Return.

If one modeled each of those scenarios using half reasonable assumptions, one would find that the second one delivers by far the higher IRR outcome.

So I applaud management for finally drawing a line in the sand and raising capital, even if it is on "weakness", because there is a large opportunity cost involved with the "continue-to-operate- fiscally-hamstrung" situation.

I mean, it's not as if this raising is for defensive purposes, (i.e., to remain solvent); it is to access a shareholder value creating opportunity.

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