They are going to need to raise capital regardless. Not sure why everyone is soo scared of that. Absolutely sucks to do it at these levels but comes with the territory at this end of town. As long as there is a plan for the allocation of that capital to drive shareholder value. Bigger issue as I see it, is do they have a viable plan to get a signed DSO, and in what time frame to at least start generating revenue. This will at least stop the burn for a while. They should also consider culling 2/3 the Board, who loaded all there mates up with free stock when they back doored this in and has been the number one cause of the blood bath in the share price. Flood the market with their free stock and have not backing to soak it up. These NED’s although not taking much in the scheme of other director salaries, have done absolutely nothing to benefit the company, only line their own and their mates pockets.
CR9 Price at posting:
1.1¢ Sentiment: None Disclosure: Held
