Companies always sell that story, though if that was the case they would've tightened the register to more like 20:1 so the sp was above $1.
When it was Spitfire, the company did a 10:1 and then raised cheap cash soon after.
Shareholders have seen the soi blow out from 105m to 1.76b, now there's a 6:1 consol.
Unless a significant deal is done in the short term, the sp will keep drifting down and another round of dilutionary raisings will follow as sure as night follows day. About $25m spent since July 2020 for very little to show for it. $10m left as of Sept 2021.
The clock is ticking.
As it is now, the sp is below .06 in the old money. Last sale of BDCDB was at .35
BDC Price at posting:
6.2¢ Sentiment: None Disclosure: Held
