Just took a quick look here. $3.4m in cash and a $2m per quarter spend is not a good look. Their "bridging finance" arrangement gives away shares at VWAP using days at the financiers choosing (?!). If I am understanding this correctly, at the current prices, this is massively expensive financing. If they provide $2m in financing at these prices they are going to get almost 10% of the company just for tiding it over for a while. If the share price falls further, the dilution is even greater.
Someone needs, page-8
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Last
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Mkt cap ! $9.648M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 2 | 434530 | 1.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.1¢ | 681818 | 2 |
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| Last trade - 10.04am 12/09/2024 (20 minute delay) ? |
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