Monday, September 30, 2019 5:45:57 PM
Unfortunately, the inability to get listed on the CSE dramatically reduced their options as far as funding is concerned. I don't see how they can continue the status quo and make this successful given the capital requirements to execute their business plan. Doing a $1mm private placement at this valuation doesn't make sense to me. It keeps the lights on, but doesn't help them advance the business in a meaningful way.
The company, from what I can tell, has basically been in a standstill position since the decision to abandon listing on the CSE. I know they have some ongoing research collaboration efforts with an Ivy League school, but it's hard to believe that the results will be a game changer for the business (hope I'm wrong). Not saying the current predicament is primarily Alex's fault, as many mistakes predate his arrival, but the markets just haven't seen much advancement since he took over either. He has done some IR communication events, but they mostly consist of him making general statements about the opportunity for CBD-based pharma, not much in the way of specifics as it pertains to Nexien.
On the positive side, the company has been responsible with the capital structure and hasn't resorted to toxic convertibles to pay salaries and increase opex. I appreciate that and it makes a sale of the company a much easier proposition.
I hope sanity prevails and the Board wakes up to the reality of the current situation and monetizes the IP through a sale to a strategic company. It's the best outcome for all stakeholders at this point.
Recent NXEN News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/20/2024 11:19:50 AM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 02/14/2024 11:04:33 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/02/2023 08:02:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/02/2023 08:02:23 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 09/28/2023 10:06:03 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/31/2023 09:41:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/31/2023 07:35:14 PM
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