I'm with you stonks. Having had a closer look, this company is selling more which is great but I'd bet its expenditure is growing faster than its income. Its cash burn at last count was $7.6 mil.
Between July 1 2022 and June 30 2023 they reduced cash burn by 26% and achieved additional operating revenue of 27%, culminating in expenses of $34 mil, of which $6 mil was a write down. They raised $8 mil in March 2023 and report $2.61 mil cash in August.
This year they have not revealed their expenses, but revenue was $23.5 mil, on $17 mil the previous year. How much this year will expenses have increased....I reckon a lot, which means their cash deficiency will be much bigger this time, so will the CR, so will the dilution. I would not be punting my money on the SP.
TheAnalyst007 is a funny guy, but he really should not be giving out financial advice and I would challenge anybody to prove that anything I have said is incorrect. If it is correct I'd be taking a closer look at the valuation you have put forward.
EYE Price at posting:
23.5¢ Sentiment: None Disclosure: Not Held
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