The cash burn on the previous quarterly is ridiculous at 1 million cash burnt for purely 'administration costs'. That's probably the issue right now. The burn will leave the company with no cash before the end of January. Company has 1.6M cash as of last quarter being finished which left it with an EV of 1.1M. As of next quarter with a 1M cash burn will leave it with 0.6M cash and EV of 2.1M with no significant projects and that's why people are selling out. I am surprised at everyone who bought in higher around 1c or higher and hope that nobody got deep in here.
IMO Avoid this stock completely.
CMY Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
