Another $28 Million of Toxic Financing is being Offered
Well guys and gals. This is not good news for retail investors. If you're wondering why the stock is not recovering from its previous rally, is real simple the street big investors don't like what this company is doing & neither do I at this point. With little to no transparency, investors had no choice but to sell the news! I hope everyone averaged down and was able to recoup losses. No one really knows what this company is planning on doing with the proceeds from the sale of the convertible notes other than the standard language, for working capital and general corporate purposes.
Now if you read the prospectus S-22 under capitalization and indebtedness they clearly say that as of 06/30/2024 the outstanding stand at 28,095,686 adjusted for 1:20 on 10/9/2024. its unclear if there will be additional dilution at this point.
The drop in the price from $9 was massive and the stock could not hold its gains, very concerning.
The price as f this post is 3.15
Holding & still Long. Dollar cost averaged $3.88
Now if you read the prospectus S-22 under capitalization and indebtedness they clearly say that as of 06/30/2024 the outstanding stand at 28,095,686 adjusted for 1:20 on 10/9/2024. its unclear if there will be additional dilution at this point.
The drop in the price from $9 was massive and the stock could not hold its gains, very concerning.
The price as f this post is 3.15
Holding & still Long. Dollar cost averaged $3.88
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.