Not sure I concur here. Snty are just too good at s*unking money. Today's announcement a case in point. How much is a complete rebranding going to cost for a company which is already bleeding cash! Another placing I dare say before the end of the year.
Revenue 3.3m, expenses at least 6.5m but with only 1.5m in cash in the bank how can they go for more than 6 months without needing to do a placing even if it does not cost them anything to rebrand. How can the BoD realistically claim that they will not need to raise any more money before breaking even ?
As a result I have taken advantage of todays spike in value to get out with only a small loss. As ever DYOR.
Is it really necessary? I would question whether the monetary cost of completely rebranding is justified at this stage of their development? Before they have even started to generate profits. How much will it cost and is it going to generate value. It does seem to me this management are good at, may I say, spunking cash.
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