Lucky they have their shares halted Imagine if their shares were not halted how low this could be.
After announcing such a bad deal. Offering $3.5 mil for a company with $265k revenues after selling data center capacity for 3 years and a huge operating loss. Just to try and have some recurring revenues on Leonovus' books and raise $2 mil in cash.
Who knows how long this is halted for. How many iterations did Leonovus go through with Galaxa.
From the outside Gaffney is terrible at negotiating.
This deal. All those Galaxa advisors. Lol, the Fraud F'up. All that spinning around ICO, SAFT, STO, DSO then nothing. 2 years later they finally get the grant they said they were preapproved for.
This will take a long time for them to get the deal done if they can get it done. Massively dilutive and won't get LTV to a profitable operating company. The forecast reeks of Gaffney hopium and again is not grounded on any reality.
Filer clearly is clearly not selling.
You can always tell the unreputable management. Pretended like this data transfer/cloud solution company was a blockchain company. That has just faded away. Now it is Edge computing ML IoT AI , etc. Which it does none of. Management who keep chasing trends pretending they are part of the next sector to raise money but have no real plan on how to be profitable other than if their dram hockey stick forecast would actually work are the absolute worst to put your money in.
Why would anyone trust this guy Gaffney with their investment is beyond me.
Filer which Gaffney told us was an urgent need is another dud like Vault. So Gaffney is trying to buy some other local company with huge losses and not really any income for $3.5 mil, because Gaffney's going to turn it around??? LMAO!
Pretty sure if we were trading this would be down to $0.01 which is the value shareholders are getting on this acquisition.