Friday, April 05, 2019 10:40:19 PM
Has to sting a little.
Reading through, they expect $18M if the over-allotment isn't exercised, and will pay SC $15M of that, pay the "loan shark" $2M, leaving $1M to pay for all that neat and groovy stuff that's supposed to wrap up and launch in Q2. That means no revenue in Q1 (not surprising, since the CEO has been working on the stock and apparently not the health of the company), none in Q2, and maybe a little in Q3. And, yes, I know that SC business will show their revenues in that period, and that's fine, but SC was a stretch as a $25M business/market cap.
If there is growth in Q3, it won't be seen by NASDAQ investors until mid-November. That will sink in one day.
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