It is easy to analyze the actions of a company and make a judgment on what has already happened. Anyone can do it. The hardest part is making the right choice by buying and selling at the right time. All posts here bash the company and recommend staying away.
I'll just bring another side of the coin. The decision belongs to everyone and makes no recommendations.
I have no information on what is likely to happen in the short term but seeing the document released on Sedar of the financial statements, there is a fact which caught my attention and which could dictate the coming months before September 23, 2024.
The company has a lot of debt, needs money and hopes to start generating revenue. Really not worth investing in and there's plenty of room to bash them.
However, they already have a deal on the table to raise money. Warrants.
1. 12,546,933, exercise price 0.18 Expiry Date : September 23, 2024
2. 5,628,500 exercise price 0.18 Expiry Date : November 21, 2024
3. 16,573,400 exercise price 0.18 Expiry Date : May 11, 2025
4. 13,962,500 exercise price 0.13 Expiry Date : November 20, 2025
5. 4,041,000 exercise price 0.13 Expiry Date : December 18, 2025
They have a deal of $2.258M on the table exercised before September 23, 2024 and another million exercised before November 21, 2024. They therefore have the possibility of raising more than $3 million this year and another $5 million next year. If they don't execute them, therefore warrant will be expired and the deal will be over.
The condition to achieve this is that warrant holders have the choice to exercise them or not. The only way to convince them is for the price per share to rise above the price of the warrants much higher so that it is a deal for them. From past experience, holders want around at least x3. So $0.18 x 3 = $0.54. It could be less, no one is in their head to know it. But definitely not below $0.30 cause it will be too risky for them.
Is it possible that the company will make a major announcement of a sales contract that will cause the price per share to skyrocket in a short period of time?
In my opinion, we will see it before September 2024. If it is a failure, the bashers will be able to continue having fun at them and will be able to assert. I warn you to stay away. High risk in here. It could be a complete loss or a huge win that happen once in a life time.