OVT’s Progress: What Shareholders Should Watch Closely, page-11

If someone posts how much money they think OVT has left, why is that downramping? It's just the facts. If they had $100M in their account would that make me an upramper? As it stands, they had a bit over $1.9M left at end of March according to their most recent quarterly. Since then they received about $360K from the rights issue. That gives them about $2.4M. For the past year they have averaged about this amount in losses each quarter - exept the last one which was more, though that did have a one off charge of about $950K to repay a loan. That's not downramping; it's just the company's financial condition.

By October, to launch BNPL in USA they said they need $18M.
Currently, by end of this quarter they will have $0 based on historical losses.
So, they need people to come in and take the rest of the Rights Issue to give them about $5M. The problem is they are selling at 0.004 - a 25% premium to the current share price.
Then you have IDSB, which sounds like original buyer has pulled out. They may still be around, but the last quarterly announcement of finding another buyer didn't sound good and how long would the sale take - they need this done well before October and the current negotiations took over 6 months, only to hit a wall.
Then you have the court case for June for about $7M. Who knows how that is going to go.
Best case scenarion
Rights Issue taken up: $5M approx
IDSB sold: $10M to $15M depending on who you want to believe
Court case successful: $7M - if they can get it back

Optimistically that's about $22M to $25M. So, in theory, they could get enough to start the BNPL. That's if everything went to plan. If the Right issue isn't taken up, then that will be the biggest problem, because they need more cash by end of June for auditors to sign off.

IDSB, who knows what buyer they will get and if they are aware of OVT's cash position they will 100% give a low ball offer.

Court case - well that's been almost a year now.

Downramping, no. But looking at their position right now, personally it doesn't look good. Especially when they don't even have anyone to run it at the moment.