That cash in the bank is all raised money. You have to look more than just the market cap... they have $0 revenue with 4 million users to date. Those are the facts. To be honest a $13milliom m/c is grossly overvalued still considering their financials and fundamentals (ie. $450,000 expenditure last quarter, $0 revenue, the term 'users' not clearly defined, unable to turn any revenue from their users to date).
The next quarterly should give an indication if this stock is going to be a rug-pull. Yes they have $2.2m in the bank, but if they continue without making money then they will need to do another raise.
How has the question not occurred to you that how many users do they need to generate any revenue, if they can't make a cent with 4 million users to date?
SHO Price at posting:
2.5¢ Sentiment: Sell Disclosure: Held
