This is all great and fine until you need to raise cash to stay alive. The reason the terms on this raise are so terrible is JAY is basically out of cash and the people giving them money in this raise know this. They left it too late to start cutting and they are paying the price now.
As bad as this deal is for us shareholders, it is better than a calling in the administrators.
JAY Price at posting:
1.9¢ Sentiment: Hold Disclosure: Held
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