Post by
tooez1 on Nov 14, 2022 6:35pm
Excerpt from today's financial release...Looks very grim...
No idea why CEO lent $90,000 to the company...I would doubt a government training grant/ a reasonable P.P./ or some other miracle is forthcoming. I am very disappointed in the 3rd quarter financials along with anyone else who thought ESTW would forge positively ahead. Judging by the continuing bailout toward close, these financials were well guessed in advance.
"The Company’s monthly burn rate on average, which was calculated as cash spent per month in operating activities, was approximately $193,000. At its current operating level, the Company will not have sufficient funds generated from ongoing operations to cover short-term operational needs."