Chalice Titanic hit the iceberg & the new CFO baled out🥵🤬 Did the Chalice Titanic hit the iceberg? $0.11? Or simply 0.4 of a penny before the reverse split 23 factor!
High debt, no profits, poor track record and the constant lack of cash for operations is clearly a sign that things are going very wrong. All businesses suffer periodic dips where operating cash is tight. However, if cash flow is continually a problem to inhibit proper operation and causes increased borrowing (debt) over numerous quarters including the two recent ones (2021), this business is likely in trouble with over $25Million. If a business is continually spending more than it earns, buying other questionable businesses using more debt, unless it is deliberate and well-funded (obviously not the case here) it will lead to problems. If money is coming in, but there is never enough to pay the bills or debt, this is an indication that Chalice needs to address this problem immediately before a hostile takeover or receivership. Causes might be (but not limited to)
Excessive overhead costs and management hefty salaries
Heavy debt loads and high-interest payments
Poor spending decisions
Poor and Clueless Management & Board Of Directors
Company concentrating on selling shares via pumpers instead of selling products