RE:Wtaf 😳 Today, I spoke to investor relations.
Here's what I can share with you...
The financial picture of the company is better now than it was a year ago.
.They signed a US. contract worth $16 million which should be reflected as of q1 2024.
Clarification on the reverse stock split...it's optional...the vote is to 30:1...30...being the maximum...but, it can end up 10:1...5:1....supposedly, the board will determine what is best for the company and the shareholders after the vote is concluded. They are keeping all options open with regards if a reverse stock split is needed and at what rate.
Total debt...around $16 million.
Cash on hand....$13 million.
Supposedly Karen Adams and her management team were told by their legal counsel that they couldn't buy back shares at this time...reason...blackout period.
The company appears in a better financial picture going forward.