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Re: MikeKnowsRunners post# 81378

Friday, 09/23/2022 1:45:11 PM

Friday, September 23, 2022 1:45:11 PM

Post# of 81573
Yes, I saw that. $600K on top of the $1.02M the company borrowed in Oct. 2021 from insiders.

CAPC is a cash burning machine. To bring the mirror to market, they raised over $3.1 million in 2021/2022:

$1.5 million PIPE in April 2021
$1.02 million insider loan in October 2021
$600K loan in May 2022

For that money, they got about $1.05 million worth of mirror inventory, or around $1.4 million retail pricing (when the mirrors were selling for $899/$1099). The rest of the money went to keeping the lights on, and paying fat salaries.

As of 6/30/2022, CAPC had $725K cash, and $9.5K accounts receivable. During the first half of 2022, CAPC spent $1.140M on operating activities, or $570K/quarter average.

$735K/$570K = 1.29 quarters worth of cash, or a bit under 4 months.

That takes us to around Halloween 2022. Spoooooky!