RE:RE:Zenabis’ debtIt looks like you've flip-flopped back to bashing again. You have accused them of lying many times, please provide a specific example of where they have lied.
You are claiming they said "We don't need the money"
The press relaeas actually says " Although Zenabis does not currently need the proceeds from the Rights Offering to deliver on its revised business plan as released on October 21, 2019, the Company believes having excess cash on hand is in the best interest of shareholders."
Do you see the difference?
If you had read the revised business plan under rationale, it states that there are a two factors that have decreeased or are expected to decrease liquiduty. They believe liquidity is very important in the current climate and feel it is in the best interests of shareholders to do it this way versus doing an equity capital raise which would not give existing shareholders the (less dilutive) option to participate alongside insiders.
Insiders currently own 51.8% of the shares and are putting an additional 6 million of their own money into the new shares.
AG recently bought a $200K of shares at $1.55 and along with the majority of the current management team is going to buy as many of the newly issued shares as he can.
Is that how how insiders would act if they thought the company was going BK?
sotypical wrote: I have said this 4 times in the last 3 days ;;ZENA are huge liars I cant understand how no one here seems to belive it They say oh we dont need the money this is just for extra cash? LO, what company take there share value from 50 cents down to 15 cents in a day because they dont need cash I will be surprized if we dont see a BK by january or febuary or so ;;
OneWhoBlazes wrote: Even with this weird offer, if everything was fine, the SP should never have fallen to these levels. At 25 cents a share fully subscribed the market cap will still only be around 90 million.
Can anyone explain how Zenabis is not going bankrupt? This deal is completely stupid. Wiped out my life savings.
I want to get back in, but not so I can lose the rest of my money.
People here have said its an opportunity, but if it was the share price would not have gone down to under .5 PB ratio..