In my opinion, this is make or break time for Appen. Another cap...

In my opinion, this is make or break time for Appen. Another cap raise, just 6 months after the $60M in May. With only $20M of the $60M left. Plunging revenue & EBITDA, and a new cap raise at a measley 55 cents.

Disaster.

I stand to lose a lot of money on this company and I don't hold out much hope for it. However, given my money is as good as gone, I can afford to entertain a couple of glimmers of hope:

Glimmers of Hope:

1) Revenue has not declined between July and October. Four months of sustained revenue at $20M-$21M per month, for each of the last four months. This could indicate a bottoming for revenue.

2) Underlying Cash EBITDA Loss seems (and I stress "seems") to have bottomed in August (-$3.4M), with the monthly loss rapidly reducing in Septmber (-$2.5M), and October (-$1M). So, obvioulsy, the cost cutting measures are kicking in rapidly and it is likely Appen is already Cash EBITDA positive for this month and, hopefully, will continue to be from November onwards.

Unfortunately, management are sounding desperate, shopping Appen around for sale. Not sure if anyone will pay for such worn out goods, but even if they do, we shareholders will lose out badly anyway.

My hope now is that
a) the share price plunges post-trading halt (30 cents would be ideal) enough for a good average down
b) nobody (i.e. no other business) steps up to buy Appen
c) Appen does in fact become profitable in 2024
d) the share recovers sufficiently to reduce my disastourous loss to mearly massive losses.

Good luck to all holders. It totally sucks to be an Appen shareholder. I am one of you and sympathize 100%.