RFN has $2.55m in cash prior to today's Trading Halt to announce a further capital raise. The net spending for each quarter has been reduced to $200k/quarter so there is no worries on that front - I think the acquisition must be a serious one, this is the third raise and will most likely put RFN over the $3m cash mark.
With over $3m in cash + the sector they are attached to, a basic acquisition in the future will see this double bag - a half decent/great acquisition will see this run hard like many have been in the tech & penny stock sector as a whole.
Check out this recent tweet:
https://ibb.co/dQHSMk
DCC & OOK are just two stocks that have been involved in the blockchain/cryptocurrency scene, check out there enormous gains since news was announced.
Once RFN begins trading again, it'll be trading at an equivalent or slightly higher then cash backing, giving the company an EV of 0 and not having any further potential upside factored into the share price.
RFN at this level post CR is a steal. Cash backing for a shell that is looking either for
A) RTO
B) Blockchain/Cryptocurrency
Expect this to start moving post CR.
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