RE:RE:Q2 Results- Another disaster...interesting ppoint of view...
I am cherry picking? Why didn't they include cash burn information in their Q2 result release? Most important bit in their financials....but nowhere mentioned in the release....So who is actually cherry picking?
All about smoke & mirrors....just liik at all of the announcement these last 2 years....
Growing a business? There is no business mate...a business makes money...they haven't made a cent and they have lost over $18M cash alone in the last six months by selling $19M ....so this number doen not even include acquisitions etc.... that is operational cash bleed- hence no viable 'business model'.
Or are you talking about a business where execs are paying themselves millions funded by shareholders, not the business itself? That is called a 'lifestyle funded company'...most of them are in business for only 3 years after they fooled gullible investors....
...So you want to include $16M of inventory as liquid assets? ...mmm...good luck paying your creditors with that as an in-kind barter....and as above...they will lose money selling those inventory...so it is actually a liability...not an asset...look at the definition of an 'asset' under IFRS...
...so yay...they have $9M extra cash raised at ~4.5 cents...how far do you thing that will take them based on their latest full year sale proiections of another $45M of sales over the next 6 months...out of a working capital requirement perspective? ....probably why CFO has also sold his shares recently... unviable without at least another $30-50M cash injection....so there is your 3B of additional shares....any debt financing is futile....company is 6 -12 months away from closing its doors without another few rounds of ATM...
...anyway...won't touch this with a barge pole....so please go ahead investing in this unviable pipedream...or are you one of the execs benefiting from this lifestyle company?
...my two cents...