I think you are both right and wrong. Do I think they may need more of a cash buffer as you say? Yes, I think that MAY be likely, HOWEVER, I do not believe a classic CR is their only option. Plummer offers them cheaper capital in the form of a convertible note and on very good terms. I would not be surprised to see the note extended by a $1m. It is cheaper capital than raising on the current SP especially if management have confidence in their statement that the landmark deals will play out in FY21.
FY21 is an important year for 1ST. It is the year where they need to be delivering at least 40% growth as @stardestr0yer suggests, and IMO I think they will do better than that. FY20 did not go as expected and that is unsurprising given the circumstances beyond their control.
Stormer keeps attacking the CEO and Co-Founder which I do not support. Seems there is more to this than he is letting on? From where I sit I think he and his team are doing excellent work. I know how long a business like this takes to really take off. Others believe it should happen more quickly but I don't think people appreciate how long it takes to change the way a market works and drive big changes.
The company is transparent and honest with its reporting. No BS in their announcements which you see all too often with other companies. That reflects well on the business IMO and continues to give me confidence in management.
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