Terrible: only 35% of PP filled for $ 500K + debts unpaidDoes the latest press release sound like great news to you or, great earnings forthcoming.?
They wanted to raise $ 1.4 million in September 2021 and, they only managed to raise a paltry $ 500,000, 60 days later, which tells me that there was no demand for their private placement. The actual raising was 7,142,857 shares or, 35% of intended private placement. That means 65% was unfilled.
Then we have them being unable to pay a measily $ 411,000 in debt being forced to issue another 6,300,000 shares as payment.
So that means 13,442,857 shares issued for peanuts, a total of $ 911,000.
And the purpose of the PP was for REPAYMENT OF LIABLITITES.
I think that the company is bleeding cash, that they have a loss from operations, that their sales must be disappointing and, that the gross margins are low.
I am glad that I sold my position out of the company. As I stated I have no position and post for entertainment purposes only.
You begin to see why they need to do a reverse stock split of 1 for 15 ASAP and, why they need to raise more cash as they seem to be unable to pay their bills. And it explains the silence.
Like Frosty said, if you cannot sell ice-cream in the summer then how are you going to sell it in the winter.
And per Pfizer Gotlieb Pandemic ends January 4, 2022.
My personal opinion,
From the REALIST FROSTY RELIGION