Post by
Flagshipzilla on Nov 02, 2022 3:02am
TRIP: Cash Balance / Burn Rate
How long will this company survive?
1 year ago this company had 30 million in the coffers. As of the last quarter the company declared a balance of 21 million.
The burn rate is approximately 1.1 million per quarter. In 12 months or another year the company 17 million assuming no money id spent such as buying land that more than likely will not make any revenues for 5 years or if the company doesn't declare a surprise loss.
The company has over 360 million shares. The industry is considered dead money and no more financings will happen.
Once the cash balance falls enough and people realize that the dream is on its way out the window the stock will crash.
The next quarter will soon be announced as the short balance keeps going up.
Over the past 2 days the SP trading average has been going down.
You get what you pay for...
Comment by
Hammer1 on Nov 02, 2022 8:54am
Meant to say that's I would buy more or buy back if it ever reach the level of my inital investment (.075) or under....
Comment by
Flagshipzilla on Nov 02, 2022 1:29pm
You would buy more in the 75 cent range if your 75 cent investment that went down as low as 7 cents recovered? Are you a new investor? Most would have averaged down already although averaging down on a losing stock is never recommended. best of luck.
Comment by
Hammer1 on Nov 02, 2022 3:01pm
Sorry I said it wrong in the second post. My initial investment was .075 cents NOT .75. And yes I would consider buyiing in again if it went to or under .075...and it probably will.
Comment by
Flagshipzilla on Nov 02, 2022 1:26pm
This sector was hot off the tails of the Cannabis sector... Now MMJ is considered dead money and not getting financings so imagine how hard it's now for the shroom industry. It may recover at some time but only companies with serious funds left doing real scientific reasearch and not fluff companies like TRIP.