RE:PKK is in the spot it's in all due to management decisionsFirst with the warrants they raised 68m 1n 2021
54m was transfer in China
10m for the Earthbeat shell
44 m to supplier third parties in deposit
54m transfer in non control of PKK anymore
why?
daviekin wrote: I see the excuses about the Chinese lockdowns making their rounds on the CEO board again. PKK is in the predicament it's in all due to questionable management decisions, not outside forces. Every single business has macro forces that create challenges and opportunities. It's up to management to manage that.
As a business in China, Golden or someone should have had their finger on the buttom when it came to aggressive COVID zero policy of the state. They should have gotten back to JJ and said to keep a war chest out of that $52 million they raised last year in case these aggressive policies stalled the economy. With all the cash that was raised, the company didn't build in a rainy day fund. That's on them. Not on China nor the NASDAQ nor the SEC.
Everyone could have seen the interest rate rise from a mile away. Any company that required cash should have raised that cash a year ago while their stock prices were high and money was still flowing relatively easily. So when it became obvious that the $52 million was only going to last a year or so, another raise should have been done. They likely avoided it because they didn't want to upset all the Hammy pumper types who can't handle a 10% decline in SP after a raise. The AMF issue sheds more light into that, wanting to get the SP up as high as possible. A raise at $10 likely killing momentum.
C'est La Vie. PKK's made a lot of good decisions along with the bad ones. But the bad ones wipe out the good and we are back to square one when it comes to stock price. Myself and other shark investors will be waiting for the cheap financing. If they ever file the paperwork.