Additional cash: $ 11,174,782 (where is it??? belongs to us)Besides the sale of assets, this is the cash balance which I know of, there were little to no debts:
CASH on bank at November 30, 2021: $ 14,401,775
Exercise of warrants at 10 cents 2,590,000 (25,950,000 warrants at 10 cents each)
Exercise of options at 16 cents 628,007 (3,925,044 options at 10 cents each)
Total Available Cash: $ 17,624,782
We know that they purchased the assets from Eson for $ 3,450,000 in March 2021.
We also know that they use about $ 1.5 million per quarter, so say another $ 3 million in operations.
So where is the $ 11,174,782 in cash, which is missing????
There were no debts or little to none.
If they raided the bank account without just cause it opens up to lawsuits. They have no credibility and I do not trust them at all. They have proven themselves to be liars.
This management was deception was the beginning of operations, all they wanted was to line their pockets. If you watch their videos of Ryan there was no truth in his words, everything he said was a lie. It is unbeleivable to see a video of 10 to 15 minutes and not one word of truth, all lies. How can a person be such a liar???
Hopefully Armistice or Wainright or some other big institution will have their lawyers look into these dealings and will oppose the deal in court. They really took Armistice for a ride for $ 15 million. All the hype, pump and lies, they did nothing of what they said they would do.
Deal is a complete ripoff for shareholders.
In one of the videos Ryan clearly states that Poda developped the intellectual property and, here he cashes in the check on a personal level.
My personal opinion,