absolute terrible use of funds. Guaranteed a portion of the $1.28m for the costs of the capital raise, was towards the market manipulation, to save raising at 3c. Looking at the volume of trades today, I'd say they still have a bit left in the tank, to cover the losses as it starts to organically trade lower and lower, back down to where it was heading.
Only winners in this capital raise, are nvidia and the brokers.
it's one thing to say EBIDTA 'break even', it's another thing to actually hit cashflow 'break even', let alone cashflow positive. There's not enough revenue to cover both OPEX and CAPEX on their ventures, which is why the continuous need of capital raising. This is going to keep happening, each time they want to upgrade their hardware and equipment.
naively setting the stage for nvidia to eventually take over the market themselves, when eventually pentanet's shareholders stop funding this capex abiss.
5GG Price at posting:
7.8¢ Sentiment: None Disclosure: Not Held
