Post by
arh0070 on May 31, 2022 8:47am
March quarterly results /look beyond the hype.
BNXA severly affected by downturn in Cryptos just like Voyager and Coin,April TTV not reported but will be bad , May also will be bad ..
Significant cash burn rate which has accelerated.
Cash June 21 18.6 million.
Cash March 2022 10.8 million .
TTV Dec fy 21 107 million
TTV March fy 21 205 million plus 95%
TTV Dec fy 22 594 million
TTV Mar fy 22 357 million. Minus about 45%
Quite clearly they are going to need to borrow money to fund operations or do a sale of more shares (ie dilution) at these low levels.
Quite clearly these trends cannot continue .The only good news is that BTC and ETHE have held for the last 10-15 days and the price of both is up a little .So hopefully there will be some type of retracement which has been long predicted but hasn't happened yet .If this bear market continues then many of these Crypto companies/Cryptos will struggle to remain viable,this happened in the last Crypto bear market .We will see what Mr Market has to say today.
Sentiment in the Cryptos is aweful right now ,hopefully this is also a sign for an upturn.
The dollar/euro was rejected at its 20 yr high ,this has resulted in a one week winning streak for the stock market ,Cryptos follow the general markets .