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.
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