BNXAI listened to the YouTube video also.Quite obvious that they have a significant cash burn rate and are burning through thier reserves,though no financial info has been released for 3months plus on reserves and cash burn rate.Private placement or borrowing money is the inevitable result of that .I also happen to invest in gold stocks and the CEO of a company called New gold had a relentlessly optimistic CEO who didnt prepare for a downturn .He almost bankrupted the company ,eventually he was booted out and replaced by someone who has spent several years undoing the damage.
Its the same situation with Mr Carosa ,he's relentlessly optimistic,didnt anticipate that the Crypto space is cyclical and didnt prepare for that eventuality despite the past history of Cryptos .Mr Carosa expanded the staff whilst it was obvious that Cryptos were going into a downturn .
I can't imagine that anyone would step up to the plate and buy stock in BNXA even at these low levels without better management .
I am just a private investor in Cryptos and Crypto stocks ,it was obvious to me in March/May 2021 that the bull market was coming to an end and a 2-4 yr Crypto winter was coming .Apparently this was not apparent to BNXA management ,its extremely sad for the private investors who believed in thier BS and bought BNXA stock (me included) though I have traded in and out (currently out).
It remains to be determined if it will survive ,new management is needed.
This is just my personal opinion and not investment advice.