Post by
sollmg on Jul 09, 2021 10:25am
May 2021 ATM Should Be Nearing Completion
30 Jun Short report shows share count has increased to 2,184,668,590. End of Apr share count was 1,955,666,754. Difference of 229,001,836. Add in 18,000,000 for the last 6 days of trading (I have them selling 3,000,000 per day) and I get 247,001,836 shares sold (or so about). Using the closing prices from the 5th of May til 8 Jul I got an average price of .07 over the 45 days. Gave me a fund raise of $ 17,290,128 of the 20 Mil total. Close to the end I hope.
Comment by
EricQC on Jul 10, 2021 8:19am
But the real question is: why did they make use of the ATM? Kiran clearly stated debt was the preferred option for financing and they until recently had, still according to him, more than $10m in the bank and an unused credit line of $10m or so. Where did all this money go? Is the van line maxed out? There's a constant over promising under delivering story with this management team.
Comment by
EricQC on Jul 10, 2021 8:23am
Press release dated April 1, 2021 said Halo has currently (as of 4/1) over $10.5 million of cash and an untapped credit line of C$15 million.