They’ve got less than a quarter’s worth of cash left and no incoming revenue, survival now hinges entirely on a capital raise.
And not a small one either. With management burning through $10 million a year in salaries alone, the raise will need to be massive just to keep the lights on.The real question is: what price will they pitch it at to get anyone interested? Because right now, there’s zero value on the table for investors.Frankly, the best outcome might be for the share price to collapse, the cash to run dry, and for this bloated management team to finally be cleaned out or at the very least, have their outrageous pay slashed to something vaguely in line with performance. Enough is enough.
Sentiment: SELL
CPV Price at posting:
13.0¢ Sentiment: Sell Disclosure: Not Held
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