100% agreed mate. There's abit of life left in conjunction with alot of risk. For a punt, there could be a juicy 400%+ return here medium term if they pull it off and when the macros improve. It looks like a potentially bountiful reward for the brave.
Problem is that even if they manage to achieve Breakeven, as many speccy investors have been burnt and/or are aware at how badly management have fumbled the ball here, it might take more than average evidence to convince shareholders to invest their risk capital. Management have their work cut out for them to figure out how they can avoid raising much more capital to loose hands until they hit at least $8m+
It is a veryyy cheap market cap if they can survive, but under $5m Ive learnt too many times it is a double edged sword as any CR is giving away too much shares to later investors and dilution which removes the fun of investing early. There's a certain type of high risk investor who has a tiny portfolio size and needs a Hail Mary in one of their holdings to build a decent portfolio and this could be it, but it's not for me as I like to build larger positions that are worth my time at a lower risk profile than this. Goodluck!
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