Post by
Proceeds on Nov 22, 2021 10:22pm
Guys read the fine print
Funds will be used for ?? Answer paying management fees and general purposes. They have Zero income and are just trying to stay listed.
Comment by
LTInvest1234 on Nov 23, 2021 6:52pm
For sure, even with $1.5M, that is all it will do. Kick the can down the road for a while. Stil interested to see if there are any retail ($1,000) buyers out there. Need an aweful lot of them to fill the coffers for another run.
Comment by
LTInvest1234 on Nov 26, 2021 6:58pm
The 2nd quarter financials are out. Looks like they need more than the $1.5M to make a go of it. Already ~$670K in current liabilities a couple months ago. Must be $1M by now. The cash burn rate is pretty high as they try to scale up.