Yea I agree. So they definitely did not have to raise $10m to fund $750k in orders. The raise still seems just as misleading as before. But maybe we will find out more.
The reality is that at 14.5c this company is around 55m on a near fully diluted basis. That means DRO needs to return 55m to shareholders at some point. Right now it is a cash pit and needs to figure out how to break even before it just keeps diluting over and over again. Based on my soft maths that would be around 15-20m in annual sales depending on product and channel. That means an announcement like this every 3 weeks.
Remember when DRO said they would not announce sales under 500k? This is just 2 sales under 500k grouped together. They look desperate.
Some small timers might be impressed but the big players are not and have left the arena. I think smart money has spoken and will sell this news. I would be extremely surprised to see a pop in share price on a tiny order like this. You really have to expect DRO to make a sale like every month to even justify the current price.
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Mkt cap ! $950.5M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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No. | Vol. | Price($) |
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3 | 123500 | 1.080 |
3 | 48790 | 1.075 |
9 | 80739 | 1.070 |
3 | 207000 | 1.065 |
Price($) | Vol. | No. |
---|---|---|
1.090 | 83609 | 7 |
1.095 | 67770 | 5 |
1.100 | 79876 | 14 |
1.105 | 53000 | 2 |
1.110 | 33000 | 4 |
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