"We are not going to buy any thing Flash with $8m on hand you all would agree on that"
This has to be the only thing you have said that makes sense Zess.
Any acquisition, is going to be highly speculative.
Anything that was making money, would be out of their price range (unless they are going to expand into local corner stores
)
And remember that 8.3million is cash in the bank, not NET cash.
The company needs to pay its bills, and spent $337k in the december quarter.
As at 30th June 2022, the company had 3.4mil in current liabilities. If we had the half yearly report, we would know what the position was as at 31st December 2022, but its unlikely to have improved (or they would have LESS cash, and we know they aren't making sales to generate $$$)
You would be generous to say the company has 4.5mil in net cash, which would leave them with 0 months runway to continue paying salaries, rents, marketing, travel and legal expenses...
If/when they have to pay Medcan, there's another 400k out of the kitty, and whatever legal fees are due also.
So when i see a prospective acquisition, dragging out for months with 0 information, morph into
multiple acquisitions, i literally laugh out loud.
If this company has managed to find multiple bargain basement acquisition, that actually generate positive cashflow and show a return to long suffering shareholders, it will be an absolute miracle.
