Not sure what all the fuss is about regarding the successful raising of $5M. Shows the strength of the company and belief by investors to raise this much at the worst possible time in the past few years at minimal discount. Seems we have the usual players on here trying to generate some fear based on nothing (well maybe jealousy)
The last time Magnis performed a CR was 2 years ago in Feb 2016. In that CR they had some international investors take part which caused a delay in some of the funds being received. The 3B's for this raise were split out into 3 different ones and ended up totaling the full amount.
I think the regular down rampers on here need to find a new angle
The company has enough money right now to buy the equipment as they are contributing an equal share with a fellow partner US$2.5M each
I agree that the share price could explode to the north once we start receiving government and private funding for the battery plants that have been announced.
We will be generating revenue by making and selling IM3 batteries in a little over 12 months from now at NY due to the recent purchase on 1GWh of cell manufacturing equipment for our Huron facility.
MNS Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
(20min delay)