" A month ago AVQ had $1.39M in the bank"
A slight in-correction there. They had $930,000 and that includes the $1.3m raising. So basically when they did the raising they must have been close to $0 and already spent $400k once the quarterly came out. Talk about insane cash burn.
The $930,000 was end of March. Probably close to $0 again before Incor came to the rescue.
Incor sold a bunch in mid July last year so it does seem strange they are coming back in. But I do agree it seems that they are trying to save their remaining stake by funding working capital.
It does tell me they have trouble raising cash. RM seems out of friends. Cash balance has been close to $0 twice now and just small raisings are being done to keep the company going while looking for the next punters. Unless there is another cap raising this month the quarterly will make for scary reading.
Maybe Incor will take over AVQ once it becomes a proper shell. They are, after all, in the game of acquiring distressed assets. It's what they do
" A month ago AVQ had $1.39M in the bank" A slight in-correction...
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