RE:RE:RE:RE:Outlook.ciretaka198 wrote: Why would they do this at this time? This time meaning the 30 day count down to where warrant holders are deciding if to exercise their warrants? The greed of insiders has no limit. They driving the price down so they get maximum shares for $17 million debentures. if they get the price down below a dollar five no warrant holders will bite and then they get shares real cheap.
Also this does not reflect well. CFO is leaving to pursue other opportunities... Why? :). Kidding aside, timing is a good question, not seen an explanation of the reason for the timing.
Seems it might be related to money needed for completing the factory in Vietnam.
Still, they are more than 2 year ahead of the due date... July 10 2023.
On the call it was mentioned ending the year with 11.2M in cash with access to 22M revolving cf but 10.1M has been already utilized.That' does not leave much and they also drew 3.1M credit facility in Vietnam. Hence, it's adding up pretty quickly and if they are reporting and expecting more orders they may need to strenghten their cash position a little more..
Also this is insightful. https://ceo.ca/byl?741f85f719a9