Thursday, October 20, 2016 8:41:25 AM
xG exploded the share count last year by a factor of FORTY TIMES just to keep the lights on and purchase IMT for $3 million. (5,128,883 shares outstanding on 8/15/15, 1:12 reverse split on 6/20/16, 17,128,866 shares outstanding on 8/18/16). The share price also plummeted during that time due to the massive dilution.
Now they plan to acquire another company for $16 million???
xG makes their money by selling stock. IMT is a money loser. Filings for several years before the acquisition by xG show millions in net losses despite millions in sales. xG's only option for raising money for this Vislink deal will be to print more shares. Better hope their printing presses are water cooled!
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