This reflects poor financial management, with prolonged timelines yielding little to no results, despite raising substantial funds this year. The management team should consider suspending their salaries until a viable solution is implemented.
The company is increasingly perceived as a significant risk for investors, with funds seemingly being expended without tangible progress on actual deal flow. Furthermore, the delay in receiving funds from the convertible note raises serious concerns. After today’s market performance, there is a strong likelihood that these commitments may not materialise. This situation does not inspire confidence and suggests that PGY could face significant financial challenges if the obligations tied to the convertible note are not fulfilled.
PGY Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
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