Pilko. I 100% agree. I have long lamented the cashburn of EDE of some $3m/quarter which has resulted in at least two capital raises since the 30c days. At the current rate of sales we will have another by end of year. As the share price goes down the ability to raise capital becomes more difficult.
The directors have an income stream from both TAS and EDE and you wonder how long they can keep stringing along share holders. They should axe half.ofnthe sales teams and the Solomons should take their income in the form of performance shares if they wanted to show some confidence.
They still haven't issued an updated on projected sales. The last announcement said $6m for the financial year and the company will be lucky to get even a quarter of that.
There seems to be 3 types of posters right now. 1) those pushing out fluffy news articles with zero relevance to Eden. 2) those who can try contribute anything more than gif and memes. 3) the long term holders who are having serious doubts about the sales potential and trust issues with their BOD.
It's a worry for holders, especially those who have topped up on the windows and have seen 75% drops in increments.
EDE Price at posting:
6.6¢ Sentiment: None Disclosure: Not Held
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