Lets look at fundamentals:
Appen raised $65 mill with $25mill at the time, now has $55 in balance sheet.
Close to $35 mill used in this time period.
Lets say 2nd half is similar, not even worse. Then that is another $35 used leaving $20 mill in the chest.
Then where do we go from there? I think it is easy to extrapolate what is going on as long as you keep an unbiased view.
Remember,
Zero Sum Game, meaning your losses are a shorter's profits. This is the game Macquarie, and other brokers have been playing for quite some time now.
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