As frustrating as he maybe, it's the reality. We drew down on the ATM facility not long ago. And, now we are paying some random family office fund manager for death spiral financing while paying them an odd 2mil shares as a fee for giving a deal (make that make sense... Paying an investor to make an investment). The business model of RNE is literally that of an investment fund, however as investors we are paying them for running a company... If not MORE as they are not fund managers. We have obligations part of other investments/tranches to meet and management is getting desperate for cash without seeming desperate. This "Institutional raise is something else in disguise".
Imho
RNE Price at posting:
2.6¢ Sentiment: None Disclosure: Held
