as the turnaround of the Company takes effects.... If we summarize the current situation of the company,
1. Lots of debt and they need liquidity quickly. Looking for a solution with the creditors. They are rationalizing costs to reduce them. As a solution, the CEO leads by example and works for free until the machine starts turning production versus sales.
2. Serious discussion underway with several international manufacturers. Imminent sale announcement coming in the next few months, if not a week.
3. Factory production in operation since April but at a lower rate than expected, i.e. 6000 liters per month.
4. An equipment breakdown that occurred during the start-up explains the 75% loss in production, but a solution was found and part ordered to restart production at a maximum level. The return of maximum production of 25,000 liters per month planned for the end of October 2024.
5. They have financing deals on the table with warrants conditional on the fact that the price per share rises above $0.20 or even in the $0.30 range.
5a.12.5M warrant has an exercisable price of $0.18 expiry date September 23rd, 2024 to raise $2.25M
5b second important date is November 21st, 2024 where there are 5.6M warrants at a price of $0.18 to pick up another million.
As one of the bashers said clock is thickening but in my opinion, for could be for positive reasons which will turn the company completely into a success story. The CEO believes in it a lot to the point of working for free...... although if the price per share goes above $0.40 in the coming months. The value of his shares will have given him a gain on paper of nearly and more $300k before the end of 2024.
These are the real issues.