RE: 0.00624 Feb 2026 09:43
Mercedes.
Well the warrants haven't been issued in full, they have issued warrants now on 10 plus occasions and none have been exercised.
They came into the raise owing money to creditors, they raised £230k plus £367k so a max of £550k if you take costs into account, they have ongoing costs and little income. So probably £400-£450 k cash which disappears quickly with ENET, not sure you realise the exchange rate to the dollar isnt 1 to 1, so looking at cash in $ and market cap in £ doesnt quite work.
If they manage to get warrants in, this cash also increases the market cap.
I'm just amazed they had to scramble around for cash at a discount, surely a tier 1 / Nvidia would have come in at a multiple of the current share cap (and not be out of pocket as the share price would have risen) ?