Yep... doesnt look too good.
170m shares just released from escrow (how soon will they hit the market!?)
Page 17 - confirmation that cashflow isnt going to meet expenditure. Funds required though CR or "other alternative funding arrangements" - hopefully not another toxic CN loan.
Loan looks likely to be drawn right down thus futher shares to be issued at 15% discount to VWAP.
Not a lot on the horizon to suggest this one will turn back up.
Its a shame. Everything about the app seems good. Its just proving to be a difficult sell.
Imo social media really only suits selling consumerables that satisfy instant gratification or address an insecurity with minimal effort. Its for lazy vendors and consumers. Wfi is for a conscientious consumer that needs/is willing to be educated and willing to invest time in their childrens online safety. I think itll take longer than most hope to find that market and it might be much smaller than most hope too.
For me its now time to move on and check back in 6 months to hopefully see some good news and progress.
Good luck to those that stay the course.
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