I’d forgotten the options were one for every two shares…
so the board effectively valued the company at 2.2 cents - I.e. 2.5 - 0.6/2.
the market has now gone one further and decided it’s not even worth that, because there’s been no perceived value added with the injection of new cash.
There may not be an immediate need for more cash, but it’s imperative action is taken to increase the perceived value of the stock, such that if cash is required, raises aren’t done at progressively lower prices limiting the amount that can be raised each time.
gotta sell the sizzle, and then follow through with a deliciously satisfying meal.
ADO Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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