suppose the market is pricing in this guys to raise capital again this current september quarter, needed to plug the quarterly back to back quarterly cash losses. Capital markets close from 1 November until 31 January, so directors will be raising in September, October the latest, allowing the directors to sign off on the 12 month forward cashflow budgets being funded.
such a raise will be highly dilutionary, and so probably structured as a con note, with options. The old death spiral con note.
or maybe the capital raise might not even get away considering the capital markets are frozen shut for these loss making tech companies. Dawine, Candy Club, Bill Identity, all gone to zero when investors decided against continually funding loss making tech operations.
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