Tuesday, December 29, 2020 9:23:40 PM
Financing on debentures-
At its discretion, the Company expects to complete one or more additional tranches of the offering of Debentures, which together with the first tranche, is referred to herein as the "Offering."
With that at the company's discretion, it sounds like capital is ready to go if the company calls for it. Add in the contract pull forward, which was already over $3m in Q4 and should increase. That sure sounds like it can get us to the summer and hitting 70k connected. So the financing seems lined up.
The first week of Dec. saw $5m in contract awards. The capital pull forward is likely available there as well.
"We have a clear pathway to achieving our goal of connecting 70,000 assets and crossing the point at which our AssetCare Over Time revenues will sustain our direct expenses on an ongoing basis," McMeekin added.
This quote is from three weeks ago. I doubt the expenses have changed much in the last 3 weeks to say that 70k is no longer enough to get to profitability.
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