If the SP keeps drifting lower, even raising a modest amount of money will start causing big dilution to the registry.
The company already owes CB a chunk of change in a loan which can be converted to shares, but the SP is well below the minimum conversion price.
If the company borrows another 3 million from CB, that's a big liability on the books.
The news flow out of this company is pitiful, an explorer lives on the basis of regular, positive news flow to keep investors engaged and interested. Will an updated MRE be enough?
If the SP keeps drifting lower, even raising a modest amount of...
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