Save a similarly long essay, no ASM does not immediately need a capital raise. It just did one in October/November and had $72 million cash at end of December. What it need is to announce a few revenue earning contracts that can start to show it can move towards some possibility of positive cash flows. Auditors always put that caveat in on any company that is not showing positive cash flows. If you read a 10K in the US literally, you'd not even buy Johnson and Johnson (AAA) for fear of failure.
Some clear contracts for the promised ramped up production of NdFeB alloy to 600tpa, in 1H 2023, aligned to actual concrete sales contracts and similar new contracts from the US, EU or Asia for the 2H 2023 flagged NdFeB alloy capacity of 3,600tpa.
But absolutely they should have done a capital raise at $12. That's in the past. They didn't.
ASM Price at posting:
$1.34 Sentiment: Buy Disclosure: Held
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