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Wednesday, May 16, 2018 8:30:07 PM
This seems to go against the "zero problem" thesis two sentences prior.
They absolutely cannot afford to keep losing money for that long. The financing they just got was already deeply distressed.
Before the last chance loan they just got, they had $1.5M in cash and were almost into negative working capital. This loan buys them some time, but not much unless they actually start achieving targets (without BS accounting shenanigans) for the first time in history.
And anybody who buys warrants should know there is a 99%+ chance they lose EVERYTHING. The one hope the warrant holders had was for the company to dilute and send the price of the warrants down, unless Cargile is willing to remove all chance from long term shareholders benefiting, this won't happen. And Cargile said quite clearly that dilution was off the table until after the expiration of the warrants.
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