GREY:CHALF - Post by User
Post by
Orwellian1984on Dec 23, 2019 10:55am
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Post# 30483743
CND $1,146,568 cash raised
CND $1,146,568 cash raised The current cash burn is $1.4 M and it is estimated to become cash positive in Q3 of 2020. The Cash balance of $3.8 M at the end of Q3 2019 raised the question if this amount will be enough till becoming cash positive.
This week GLH has raised another $1.15 M by 4% dilution at 3 cents. With additional tightening measures on spendings such as the recent termination of contract with Renmark, this can buy one more quarter. Now it seems GLH cash balance is enough till Q3 2020. In another word, there is a little chance for more significant debenture conversion so dumping does not benefit the manipulators any more. Yet there maybe addendum to the recent agreement that will be unfold on January 6th. Thereafter the horizon is bright.
This is a very positive news. Keep in mind that the debenture holder, Canaccord, has received its interest in shares with price 50-100% above the market spot price. The main investor by far is highly confident in its investment and keep adding to its position.
https://markets.businessinsider.com/news/stocks/holders-of-debentures-approve-payment-of-interest-in-shares-1028782267