thats the nail in the coffin for me.
I'm out, and calling it over for these options.
22.5c strike price, plenty of time, but for 3c to get to that 22.5c, now with consolidation X 15, but same relative climb. But,,,they will now have a tight capital structure, so they can raise more money at who knows, 2c ??? in the old money ? but on the other side of the consolidation no doubt.
And could probably issue a new series of options with a much lower strike price, makes the old options dead on arrival.
Like say 2c to 22.5c climb. If they can actually get off life support with their loss making, revenues.
The MC at 22.5c (x 15) with the new shares on issue post raise ?
Hence, got to call it a day. And take the tax loss.
GLTA. Good tech. But as others have said, too slow on the growth, and caught in a CR junket.
The bridging finance was the red flag, with such desperate terms, and nothing else has yet filled the gap.
Well, says that a larger CR is required. Post Consolidation.
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