I may well be proven wrong here but, from the trial results for BIT225 on VIV were not that promising showing no improvement on the previous trials.
Given that, putting any additional funds into BIT seems to be a waste of money.
If BIT has virtually nothing to offer then maybe it is time to wind up the company. It does seem a prudent move ny the BOD to do that while the company is still solvent.
One thing to take into account is that the SPP closes on the 19th March. At the beginning of the year, BIT had cash that would not get them through to the end of the financial year. At the end of the SPP period, they would have almost used up one quarter of cash.
Unless the SPP is successful (and most retail investors would not participate while the SP is significantly lower than the SPP asking price), then there is little the company could do but wind up.
BIT Price at posting:
0.8¢ Sentiment: Sell Disclosure: Not Held
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