Well fk me. I knew the cash situation was a problem, but didn't forsee Nebari pulling the pin on the finance. Cash is king for these companies, debt is very dangerous. Something for all of us to remember going forward - we all love to whine about CR and dilution, but financing via equity is a much less risky proposition for holders in start ups. Nailing a ramp up perfectly virtually never happens, there are so many moving parts to it so you need a funding buffer.
Sorry to all those who got caught out. It goes for us all in different degrees because I don't think a single investor has made money from TNC. The underwriters from that last raise are still well and truly caught as well (I suppose at least there will be some decent firepower coming from them legal rep wise).
To the board I say this with hand on heart: GAGF
TNC Price at posting:
3.0¢ Sentiment: Sell Disclosure: Held
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