Q2 Results- Another disaster
So revenues are 10% down from previous quarter...and wait for it: they have now lost >$18M of cash operationally in the last 6 months on $19M sales....
But hey, they have now ~2.2 billion shares in circulation...will soon be >5 billion now that only $6M in the bank, but have over $20M of short term liabilities....and the only way to get to $70 annual revenue means at least another $50M of working capital injection...and that is not viable....
....so brace yourselves.....fundraising at <2 cents now that they have proven an unviable business model?
But look at the bright side: only $6M of compensation was paid to some people these last 6 months...I wonder who?
...my two cents....