Why not $50m cash raise then, using your formula, and issue 5x the number of new shares than those announced today, taking the SOI to, say, ~818m and a market cap of ~$94m. That would presumably give you an even better 1.7 multiple (!)
Instead of diluting existing shareholders by a further ~17% which is what has just happened, they could’ve diluted us ~87%. With everybody here supposedly Long & Strong Forever surely nobody would mind at all :/s
Why not $50m cash raise then, using your formula, and issue 5x...
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