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.
Hi DB. The announcement wasn't as good as it seems. This company...
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