Post by
arh0070 on Aug 27, 2022 11:58am
BNXA/Finanicals
Interesting article in the WSJ online today about Tether and it talks about how long it takes to do a proper audit.Relative lack of financial transparency etc,etc.I do note that compared to last year BNXA financials are delayed ,currently by about a week and almost 2 months since the close of the financial year .The TTV for July (which no doubt is bad)has not been released.For some time I have been concerned about lack of meaningful communication about thier financial situation,borrowing etc to fund the business.There are lots of communications on Twitter by BNXA and Carosa which resemble those that VOYG used to put out ,none of which however speak to thier financial condition ,which to shareholders in this crypto bear market is naturally of significant concern especially after what happened to Voyg.
Markets and Crypto had a bad day Friday courtesy of the US Federal reserve which is quite apparently between a rock (out of control money printing by the Biden administration which in my view is incompetent)and inflation caused by the out of control money printing.
Its hard right now to see how the world economy will escape from this self induced mess.
I have personally resolved not to attempt any more bottom fishing until these financial issues are dealt with in detail by management and desperately needed changes are made.