ETI Hostile TakeoverETI is done...
Last financial as at March 2021, indicates a cash burn rate of $1.5 million. Therefore as at June 30, cash on hand is estimated at $2.5 million. It is safe to say that by September there will be another placement to raise more cash. Let’s look at recent placement trends… $1.50, $0.70, $0.30… It’s pretty safe to say that next raise will be at $0.15. Recent weekly same old same news releases, including legal action are an attempt to save the sinking ship!
Fast forward 18 months from now… Prediction is ETI market cap will be $10 million, and MWX cash flow positive will enter into hostile takeover of ETI. Goodbye DN and any legal action, hello 100% MWX ownership of e-waste facility and everything else that comes with it!