What a sad state of affairs - $1.34mil revenue from customers for the quarter and a second loan against the R&D rebate, that won't be paid until later in the calendar year....... The two loans are at 15% interest......
"Smoke & Mirrors".........
Where is the $6mil in contracts Stef Winwood was bragging about only a few months back...??? Would not have liked to have been a new investor jumping on board back then.......
"Smoke & Mirrors".........
And so the cap raise wheel just keeps turning....
When will something be done about the pathetic way shareholders are being treated by this company? And not just recently, but for years. It's clear that the board and management teams consider this a 'lifestyle' company and just keep sucking the cash out of shareholders, with the carrot of vast riches from GAN Lasers 'just around the corner',
with no apparent accountability or consequences for the lack of achievement.
Years ago, this company was in my top 5 holdings. Now it's not even in my Top 20....... The failures are staggering.
As far as the SPP is concerned, good luck...!!! From the SPP announcement today -
"Eligible shareholders may take up their entitlement to acquire new BluGlass shares in full, in part, or not at all."
Yeah well, it's
NOT AT ALL for me.
(20min delay)