My view is they are grasping at straws. They are desperate to do what they can to not let anyone boot them out. With some of their recent misdemeanors I can only guess what skeletons are in the closet!
IMHO the new group Regency trying to raise money under a Convertible note will have the directors out and spin the business off in no time. The business doesn’t make money under the current guidance and is floundering to say the least. This will be back to a shell in no time.
Otherwise why would you raise another 2m for the Business when it’s makes zero profit, bleeds money and is managed by a couple of directors who haven’t delivered.
AIMO.
TKF Price at posting:
1.4¢ Sentiment: Sell Disclosure: Held
