Endgame?

Now here's somewhere I haven't posted to for -- goodness! -- well over 2 years! Looks like a few of the same old usernames are still here. How is everyone?

So what's been going on? What's happening with the sharepri... ah... well, yes, isn't that exactly what I said would happen? There was never any market for the VIN stuff, and given that they finally gave up on it and just became a Starlink reseller it's not surprising the value of the company has tanked. Who wants to invest in just another Starlink reseller? No one's going to make significant money from that except Elon.

With the shareprice at this level, their money tree has finally withered. Their last fund-raising was for $3m, so to raise that from the markets today would mean issuing a billion new shares. That would be quite the dilution, if it were allowed. But it is not, so instead they arranged a loan at, yikes, 42%pa. How are they supposed to repay that? They need some sort of miracle just to meet the interest payments.

According to the last accounts, they are losing a million dollars a month and executive pay is over $2.2m a year. So is this the end game? The markets and shareholders won't support them any more, borrowing is nearing loanshark levels of interest, and no other source of funding is apparent, so is this now just a case of the board squeezing the last few drops of juice from the pips before the whole thing dies?