I think the 2 big issues slowing down any new investor here would be:
1. After issuing shares to retire all the debt and convertible notes, the new investors will still only have a minority of the company, so board control is unlikely to change. They're not even acquiring majority control of a shell they can backdoor something else into.
2. The fraction of the capital raise which is actually left to fund the existing business is to fund more of the same, which to date has generated years of massive ongoing losses with no sense of a turnaround.
If, despite that, some 'sophisticated' investors are prepared to hand over $8 million in cold hard cash, send them my way. I have a portfolio of bridges I'm looking to sell off.
IVO Price at posting:
25.0¢ Sentiment: Sell Disclosure: Not Held
