RE:What’s going on??@ Wed
I dont think we need to speculate
Just need to read the latetest Fins and MD&A
2.1 M in Debt
No Money in bank
No operations seem to be going on in that quarter as per Fins
No sales no revenue and as per their own words in MD&A docs they do not expect that to change in the near future.
NXO were close to commercialization 3 years ago ...edge 2 years ago and the edges edge 1 year ago
Since then we have lost our only 2 Tech guys ...and the Team Page is full of board members and Sales or tech advisors.
Then a 5 month Halt on trading
The Company doesn't care to advise anyone what is happening , obviously this means they dont care about current shareholders.
To Survive they need money - They have no revenue so that leaves a PP raise.
They have 2.1 Million $ in debt to Cover plus they would need say another 2 Million $ to last another 12 months - 18 months or soo.
So they need to raise 4 Million $ on a company that had a 4 Million market cap 5 months ago.
Numbers dont lie.