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I'm so glad they have already spent the money they raised this...

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abediamond

981 Posts.

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31/12/21

12:34

Post #: 58584501
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Originally posted by amb005: ↑

Yes very likely, the rate they are burning cash, they have already gone through the cash raised this year ($20mill) and are in debt over 18 mill by way of debt facility (of which they can pull out total of $50 mill,) at this point in time they are likely around $30 mill into the debt facility or more, and needing to service this debt and finish the build, fund a harvest in the new build which is going to be hugely expensive, not to mention the trials for the OTC product which is notoriously expensive, nowhere near enough cash to get that done. Its pretty much a given at this point that they will do another discounted CR in the next 6 months or so.

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I'm so glad they have already spent the money they raised this year. It is progress, they are building an empire.

CAN Price at posting: 29.0¢ Sentiment: Buy Disclosure: Held
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