The problem for companies like LIT. They have a massive cash burn rate. Annual loss for the company for the past 3 years is between $15-$20M pa.
Current Market cap is $61M. They have to dilute to the tune of 30% pa.....just to keep the lights on.
Back in 2016 when the SP hit $0.38, there were only 230M shares and a market cap of $61M
Now is 2022, with 1.2B shares, a share price of $0.05, they still have a market cap of $61M.
So between 2016 ($0.38) and 2022 ($0.05) the share price has dropped 87%, however the market cap of the company has remained the same
Ann: CHR: Charger's targeting suggests Large Lithium System, page-35
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2.0¢ |
Change
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Mkt cap ! $26.29M | |||
| Open | High | Low | Value | Volume |
| 2.0¢ | 2.0¢ | 2.0¢ | $18.02K | 901.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 969945 | 2.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.1¢ | 1355609 | 9 |
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| LIT (ASX) Chart |