Originally posted by t1obrien
I thought the excess cash would be used for working capital / strengthening the balance sheet - given TNT is not yet cash positive. Given last 4C is was due to lose about $400k this quarter from memory, with about 1.7 million in the bank. Accordingly, cash was starting to become an issue.
An extra 1.9 million would put Tesserent in a nice cash position and give them sufficient cash until the new combined entity is cash positive - hopefully by this time next year.
I thought another acquisition would require another capital raising.
This is pathetic. More cash means more money we burn means more shares are issued means share price goes down as it becomes diluted. TNT Management is useless here.