Post by
arh0070 on Nov 09, 2023 11:05am
November 7th investor news
Took a quick look at the news released on November 7th.Looks like to date they have raised 5.5 million of the 6 million planned.TTV in annual report released in 2023 dropped by half compared to 2022 though negative ebita was halved .This indicates better management and presumably a bunch of layoffs with reduction of expenses.TTV since the release annual audited results earlier this year is up about 30-40% which is more promising given the fact that a new Crypto bull market would appear to have started.
Looks like they are paying off the 25% interest rate debt from a vulture fund.
They have about 11 million AU in reserves ,not sure if this is before or after (probably before)the payoff of the 25% debt.
Significant investement by senior management in the new capital raising which is a good sign.
So things look more promising after the disastrous previous management (now all gone).Mr Arians and Mr Queresi seem to have the company on a better track.