I think they are in discussions with a large party about a serious partnership. I have a background in accounting and from my experience businesses aren't asked to supply their balance sheet unless there is a significant contract under consideration. More so if they are being directed towards a certain D/E ratio as this suggests may be the case.
@Kruiser if they drew out further funding from the convertible note that would further skew the D/E ratio, so it wouldn't have helped them if that was of primary concern. For this reason I don't think it was a need for the cash per se, it was to deleverage the balance sheet to appease the requirements of a third party.
I think something big is brewing in the background, potentially breaking new ground for Crowd. I could be totally wrong, but I am somewhat optimistic about this.
Some of the comments thrown around here towards Dom as to his character have been incredibly disrespectful. While I think it's fine to have an objective opinion of someone based on the facts, I can only hope that some of the posters here don't actually sling such poisonous comments at people they deal with in the real world as has been done on this forum. Shameful behavior in my opinion.
CM8 Price at posting:
16.0¢ Sentiment: None Disclosure: Held
