That cash burn growth ratio is shocking. They have not grown in revenue at all while they have gone through 10m of ipo funds plus another 2m something in a placement not long ago. They are now back to the markets for more. This is a 2-3m company now trying to raise another 2m to stay afloat for 6 months? The dilution here is so destructive that even if they do manage to pull something off it will unlikely recover to ipo price anytime soon, if ever.
The cash burn is probably reflective of a tiny company trying to run as a multinational in such early stages without adequate recurring revenue or having the right capital behind it.
Shame as this did tick many boxes initially and unfortunately has gone down the drain.
I wish holders luck.
3MF Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
