Hi DB. The announcement wasn't as good as it seems. This company burns $3m of cash per quarter, so this $500k gets them two weeks of cash (spread out over the next 6 weeks).
I suspect the announcement was put out to distract from the further $500k raise.
What kind of healthy company goes and raises a further $500k after getting $4M within the last month? They're desperate for cash and burning through it at an astronomical rate. In 6 months we'll have another capital raise.
What is the mindset of the EDE Board?, page-2
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Last
0.2¢ |
Change
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Mkt cap ! $8.216M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.2¢ | 0.2¢ | $129 | 64.34K |
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| No. | Vol. | Price($) |
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| Last trade - 11.51am 15/11/2024 (20 minute delay) ? |
| EDE (ASX) Chart |