So true Suni.
I left here because of this, but i must say i have never read so much nonsense here. Ever since Perkins came along non stop, the drop started, and i noticed every morning over the last few weeks their were fake bids in pre open trying to suck others into buying this ,.It worked a few mornings.
And how many of the main crew here said NO CR NO CR.? pfft
Bottom line is, this CR is to keep this thing afloat imo. And how long is $5m going to last if that is the correct amount being raised, what 1 quarter.?
Facts are ASN, going on their last quarterly report back in July showed they had only
4 quarters of cash remaining which INCLUDES the $30M loan facility so this quarter report coming anytime now will show most likely no cash and into the $30m Loan.
I was told very aggressively where to go when i dared mention CR, however myself and a few other posters here are proved correct. ASN going on the last quarterly report shows a massive cash burn and is in an extremely fragile financial state,
Agree though , the heavy selling immediately prior to this TH for CR needs to be looked at, they all were getting out seemingly knowing the CR coming.
This thing is nowhere near bottom imo,
with a massive current $120M MC and more dilution coming, i am quite surprised this is above 4 cents, wont be for long in my opinion.
Those here shutting people down with aggression should take a good hard look at yourselves.
Bottom line never invest in penny dreadful companies with huge cash burn and little to show for it.!
Below is the current grim financial position from July quarterly report, i for onw not looking forward to the coming quarterly report to be released any day now, and i feel there will be a number of CR coming.
Agree with a few here, shaking the can here shows little interest , but i guess aint that what many been saying and told to rack off.
Hope it all works out, cash is king, something ASN do not have at the moment.
Good thing here thoigh, is at least they diont want to start eating into the loan facility, that could be disasterous financially, so at least CR are the way to go for the cash strapped position .
