This is such rubbish, Average Al. IMU raised $90m from insto and soph investors back in 2021. This was to provide a cashflow runway out to the end of this year!
Hopper then torched these $0.45 options by selling 75 million shares 1 quarter later.
IMU has resorted to debt spiral financing from sharks because nobody else wanted to touch them. The only way IMU can complete a traditional raise now is by throwing long suffering shareholders into the fire one last time.
My money is on a post-consolidated raise valuation of between $0.30 - $0.40/share.
IMU Price at posting:
1.9¢ Sentiment: Sell Disclosure: Not Held
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