BnxaThe cost of redemption of the convertible securities is 4.2 million at 2 years .The lender also gets over 2 million warrants exercisable at 1.27 a share .
It should be clearly understood that debt securities take priority in a bankrupcy over retail shareholders.
Current cash burn rate based on the release is about 1 million a month .
Retail shareholders have to ask themselves ,what is their opinion of the credibility of management .
Remember in May 2021 they expanded thier staff right into an obvious Crypto bear market ,a few months later when they realized thier mistake all those people (and perhaps more )were "redeployed".
Second there has been NO release of detailed financial information since the March 2022 quarter ,the annual financial report ended June 30th 2022 has not been released.
So I think retail shareholders might easily challenge the credibility of management and thier forward predictive abilities and take these predictions with a "grain of salt".
In my opinion notwithstanding what happened in the last Crypto winter (when bnxa was much smaller ).it is not at all clear when this will end .Markets are doing a little better on speculation that the fed will not keep raising interest rates so fast .
Personally I think a lot will depend on the federal election results in 2 weeks .If the democrats control both the senate and the house ,the market will tank.
A major recession will be hitting the US and likely Canada in the next 6 months with real estate markets crashing .Chinese markets down a lot in the last few days courtesy of president Xi.
Jonas is certainly earning his paycheck spouting the company line and is doing a good job .
Europe and Asia is a mess so bnxas only hope is the Us market ,all will be determined by the length of this crypto winter ,if its 6-12 months bnxa will likely survive if thier numbers are true ,if its longer ( and I personally hope its not)then thier will be trouble for all Crypto companies including Coin .
I went back and looked at Vancitys predictions ,on April 2nd 2021 he was predicting 30-50$ a share for bnxa and this rubbish was read by almost 500 people.
He bought in at 90 cents a share and unless he is a total fool probably sold out a significant portion of his position at a handsome profit and has riden the rest .If he didn't I wouldn't listen to his advice anyway.