They can’t survive by merely fine tuning the huge cash burn.
Still burning $1 per Q. Projecting over $1mm next Q excluding planned investments.
I can’t say I like the look of their new investments either.
So the game looks like eating all the worthwhile bits of the portfolio whilst also borrowing via convertible notes.
I can see a stage where the CN holders are left with most of any residual value and the task of biting the bullet and removing the heads from the trough.
Disgusted,
EL
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