CRESO PHARMA LIMITED (ASX:CPH) - Ann: Creso Completes Import Procedure in Uruguay for anibidiol, 54391799, page-9 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

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FraserJC

4,252 Posts.

684

09/07/21

11:06

Post #: 54391799
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Originally posted by bigal36: ↑

I have been investing in penny stocks for over 30 years.
Off course companies start off with borrowed money and seed money from investors but it depends what you do with that money that's important.
From my experience the ones that succeed are the ones that keep the cash burn under control by starting off with minimal overheads and focusing on one or maybe two things really well.
This company pays out huge consultancy fees, has high cash burn and is trying to do too many things at the same time with limited funds.
The fact that they want to leave the ASX suggests to me that their capital raising ability here is just about run out so they are setting up elsewhere and will start doing more capital raising there.
At some point you have to actually start making money and not keep relying on capital raisings to pay the wages.

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CPH Price at posting: 13.5¢ Sentiment: Sell Disclosure: Not Held
7 Upvote

2 Great analysis

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