simply because they will find it almost impossible to be able to borrow again . and they will never be able to do another capital raise this partnership was a last resort , the company was no longer able to expand without it and without the last capital raise it was finished
but why they even tried to manufacture is the mystery
I am on record 2 years ago urging management to raise 15 to 20 million when the share price was 30 cents and use those funds to ramp production 2 to 3X now they find themselves with even more debt and seeking a partnership, with a share price near all time lows we are still not told if this partnership has been signed and if govt approvals have been given the timeline is already long past on this expansion this business plan was never going to work , the turnover was nowhere near where it needed to be and they had no way of ever achieving profitability the plan has been a complete failure ,and how can their performance be remotely defended ? but the tag team will continue to criticize any dissent , just as they have from 45 cents down to 5 cents when is anyone going to have the guts to criticize these pretenders who have destroyed this company just the amount of cash they have burnt should be enough
the share price is all that matters, that is the true measurement
CG1 Price at posting:
6.4¢ Sentiment: None Disclosure: Not Held
