BnxaYour very legitimate questions about the company need to be addressed by them .The 88$ million shelf life offering for the next two years is now registered and shares will be sold "when market conditions permit".
Seems to me the company needs to come clean about why this has been necessary and why the switch from the prior method of capital raising a private placement which was the method done a few months ago .They(the sophisticated investors) bought in at 4$ and could sell other shares (but not the placement shares )at 8$ all ably assisted by the likes of Vancity ,Urbani et al.
What are the plans for the money .
The inevitable conclusion in the absence of any kind of explanation (from the company)is that they continue to burn cash and can't fund expansion of their business product line through internal cash flow(Vygr is able to do this)
What this also means is that over the next two years is that if the share price pops up a little then they will sell into the market to raise money .This will inevitably cap any rise in the stock price for 2 years.
Wonder where all the pumpers have gone to explain this all away.
This money is planned to be raised in Canada on the Canadian exchange which is where the main trading volume occurs.
I still dont understand why there is no Australian listing for an Australian company.
So we wait for the July Total transaction volume is to see how good or bad it is and what there current cash balance is .
I still have a small holding on Bnxa stock paid for with profits which occurred during the rapid rise after listing ,this was when the Crypto market was euphoric.
Bitcoin has to get through various Fibonacci retracement levels before its off to an all time high .
Ethe is up 30-50% from its cyclical low but well below its all time high .
Some evidence that alt season might be starting ,Cardano has had a pop in the last couple of days .
Any kind of regulatory framework agreement between the government and Cryptos might provide the impetus for a parabolic rise ,there is some speculation that this might happen .