Congratulations $$$$. Thats is one Olympic standard triple backflip you have done right there. We are all very proud of you. Thats a sterling A-grade effort given where you have come from only weeks ago. I mean that genuinely. Good effort.
I'm not sure yo are aware of it but in one post you have just covered almost everything that I and some others have been warning about for a very long time and contradicted almost everything that you have been telling us. You remember those of us that you repeatedly called "lying" "down-rampers" "trying to manipulate the stock"? Now after many months you appear to have discovered the exceedingly obvious. All the things we warned about are true. The track record for delays, failed promises, loss of shareholder trust, running the accounts dry etc are all covered in your email but this time you are saying they are true. We weren't lying after all. You have now seen it all first hand and seem willing to discuss it. I'm pleased for you.
When we warned that there was likely to be a CR many months ago you went a little postal at us with endless name calling but today you seem to have joined the dark side and here you are stating that not only will be a CR but going much further and into the land of pessimism than I and you don't even feel that they can succeed at a CR and that most people won't pay up. I personally feel the situation isn't nearly that bad. Ironic isn't it?
When I mentioned a CR months ago, right after calling me a "down-ramping liar" you told us all that there was no need for a CR because, and I quote, "People who purchased options, Will convert as they become in the money". As you know the options have been in the money since Sept 2023 right up until today when they continued the free-fall which started right after we were told they were great value at triple the price. I explained to you at the time in great detail why the options wouldn't be converted and here we are all these months later. I think you will agree that people didn't exercise their options and the company didn't get that money as you stated they would and that the options aren't likely going to prevent the need for the CR after all.
You also told us after the last quarterly 3 months ago that they have plenty of money and won't need to do a CR because, and again I quote, "BIT will have nearly no expenses seeing as Phase II Trails have been completed". This week the company showed us their updated financials and once again they didn't drop their spending to "nearly nothing" but instead continued to spend at close to their longer term average of around $4.5m PA. At the current rate they will run out before the next quarterly and I see from your post that you now understand that. I really am pleased that you get it now. I don't like the things that you say but I don't want anybody here to get hurt and lose money. My warnings on this were free of charge and worth every cent that you paid !
I see in your recent post that you are now predicting that the share price will continue to drop and that they will do a CR in the 3c range. Now if I or one of many other posters had said a single thing that was in your most recent post you would have ripped us a new one and issued a tirade of abusive name calling.
So here's the thing. I'm not calling you names even though I think you are now too pessimistic. I believe this is actually the best post you have ever done. I don't agree with it all and I think your now overly pessimistic on some aspects but I believe that you are now genuine in what you are now saying and I applaud you for that. That is what genuine discussion is about.
Since you are now much more pessimistic than I about certain things, please rest assured that I won't call you a "down-ramping stock manipulator" and I won't threaten to report you to the FBI, CIA, ASIC etc like you said to me when I previously said some of the same things that you are now saying.
I'm not going to ask you for an apology. I only ask one thing. Please just stop the relentless name calling. When it later emerges that you were completely wrong the backflips don't hurt nearly as much.
PS. That was also a nice long post from you. You were also often a critic of long emails from others which you referred to as "essays". You appear to be over that phobia now also. What a day.
BIT Price at posting:
5.6¢ Sentiment: None Disclosure: Held
(20min delay)
