Laura202223 Dec 2022 18:57
If you are trading, you might be ok either way but don't trust anything they say! CFO Jonathan Hall simply lied to the market when he said they will never have to come back to the market after they raised in March 2022 but their result says they will run out of cash pretty soon. After June 2022, they have roughly 10 months runway so six months almost gone meaning they will run out of cash in April 2023 so a fund raise very likely ahoy but at what price? :( Just beware of this company, previously both CEO and CFO attended podcasts and ramped this stock only to get investors attention, it worked for them but unfortunately us investors paid the price! Trading is probably ok but don't hold this stock for long term. Investors were down 70-80% in last few years not because of the bear market but the way this incompetent management raised funds and ran the company. They acquired several overpriced sites, failed to grow them organically, lied about their IP Tech SAAS being a winner when they are still in search of a partner since August which means either there is no appetite for such a product or it's simply rubbish. The CEO will probably release another rampy podcast after Xmas to lure new investors like yourself in to do another fund raise with warrants. However the current 1.25p warrants expire in March 2023 so you might be alright trading it for a while but absolutely no guarantee. There were so many red flags and we all believed the hype and potentials and like others paid the price over and over again. The carrot was too good!
Still learning the hard lessons .. :(