RE:RE:New Press Release - CO2 GRO INC. ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT OF UNSECURED CONVERTIBLE DEBENTURE UNITSLongholder99 wrote: Cash for another project? Using financing to establish more recurring income would be smart if that's what is going on. Allow the sp to grow and pay the loans back in shares that are in the money. Let's see what you are up to CO2Grow. Pay your loyal shareholders for their patience.
They outlined it pretty specifically that it is basically just to (hopefully) fund all related activities towards transitioning TAPs to fully secured contracts and all of the install costs assoicated with that.
From here to end of Q2 I feel is going to be telling. They either can raise this, necessary, captial to be able to fund these (needs to be large) contracts for having larger income coming in - with rose trials and the 100 M sq ft grower in Europe [Q2], or they don't get these committed to full contracts and the teams inability to get our customers pen to paper is yet again fully exposed.
Only glimmer of hope I see is that in this latest release they give a specific time period in which they 'expect' the next tranche to be fully closed.
Very difficult to believe where over 2+ months (?) they've barely brought in $186,000, but in the next month or so they will be able to secure the remaining $2,314,000...
I'll get stringed along one more time but that is likely going to be it. I'm chucking darts at a board blindfolded