I wouldn't be putting much faith in Ionic's abilities, past or present.
For the 9 months to September 30, they made a loss of USD 18.1 million. Even after raising USD 13.6 million in funds from convertible debentures, they ended that quarter with USD 385,000 remaining after continuing to bleed cash at a rate of knots.
They've found a way to kick the can along since then, but, if those sort of numbers don't otherwise bring into question the value of LSH's deal with Ionic, then it at least should raise some serious questions about their ability to "make the necessary investments".
It's not valued at a USD 3 million market cap for no reason.
