RE:Cash Position and WC as at Dec 31st 2022This is why they needed the sales they promised for Q3-4 LAST YEAR so badly. Why it was such a disaster.
Why the share price lost more than half since the so-called Position Of Strength. The only people with a clear picture of what is all involved sold their shares. They never said why. Apparently actions are more important than their words. Shareholders were told bedside YouTube stories about Fairy Tales to make em fall asleep. Seen it before like Nasdaq in June.
Whatever timelines they talk about, fewer and fewer believers will fall for it.
Yeah, no doubt the Tech is good for something probably. However the big question will always be the cash. And the share price at which they can raise cash. Any loans will only serve to speed up their demise. maestrodrumboe wrote: Lol.. they soon be broke...check out the Working capital position from the MD&A..they won't make it till the end of this year.Sure. they were able to raise some 5 mill in cash from the excercise of warrants in the 1rst Q,,but they would have also burned as much for the Q .IMO
As of December 31, 2022, we held $9,229,845 in cash and cash equivalents. We had working capital of $5,751,101 on December 31, 2022 compared to $19,865,170 on December 31,2021..
. The Company’s statement of financial position as of December 31, 2022 reflects assets with a book15,390,453 compared to $27,153,977 as of December 31, 2021. Sixty two percent (62%) of the book value at December 31, 2022 was in current assets consisting primarily of cash and cash equivalents of $9,229,845 compared to eighty percent (80%) of the book value as of December 31, 2021, which consisted primarily of cash, cash equivalents and short-term investments of $21,308,603.
During the year ended December 31, 2022, the Company had negative cash flows from operations of $12,325,910. The Company has prepared a cash flow forecast which indicates that it does not have sufficient cash to meet its minimum expenditure commitments and therefore needs to raise additional funds to continue as a going concern. As a result, there is substantial doubt about the Company's ability to continue as a going concern for the next twelve months from the date of these audited consolidated financial statements.