RE:RE:Jamie Dimon and Nivaura SEDAR IS OUT:
It's concerning, but I continue to believe that there is more here than these ugly statements. We will run out of cash this year and die. Unless we get more funding, which would be dilution, and/or we start producing revenue.
I remain bullish because Bundeep's fate is tied to my fate. And every private placement accredited investor is tied to my fate. If I did, I'm taking all of you with me, in my imaginary spaceship. You are my hostages! NOW FLY THIS SHIP!!!! :)
Reading the reports, we are in violation of the CSE's working capital requirements. However, the last line quashes all fears:
Subsequent to December 31, 2018, the Company received $965,648 from IXL Holdings Limited in settlement of the amount receivable disclosed in note 6.
So, we are actually well above their minimum requirements today. We have real cash. However, we have real cash burn. And it's going fast. Yet, these aren't exorbitant salaries for what they are doing and the caliber team we have. That's by mar the major expense. We have puny expense in promotion. It's very salary top-heavy, yet they have everything to lose. I don't believe we are going to crash and burn, but that's what the documents' trajectory point to. And our price reflects that.
We have some good investments, but that means nothing without cash flow. Cash flow is our blood, and we have a hemorraging problem. Our invsetments are not even liquid. Nivaura is private, Black Insure went dark on us, and I suspect they are suffering from depression right now or something. And Phunware -- Heck, at least they aren't exaggerating on their books. Just their PR. But PHUN isn't even liquid yet, and by the time it is, I just hope I'll be in the money with my own personal warrants. Geez!
HOWEVER, Nivaura's CEO just got a 20M round. PremFina got a huge round itself last year. The yare surrounded by money. Quality begets quality. And come to find this week, Nivaura's CEO actually led up the R&D at PremFina, once reporting to Bundeep. That's amazing to me. The personal ties are close. The London Stock Exchange leading that round was once a place that our Chairman, Martin Graham, had a very important role in. And he still has some important roles with proven longetivity.
I have faith that it's all going to work out. We need revenue. It's not like our burn rate is so bad if we coudl offset it with some revenue. We seem to have pipelines established. We will incur losses for awhile, but anything has got to be better than this I would hope by next year. We have got to get some traction.