mCloud Technologies Corp (MCLD)

[DVP25]

I just keep coming back to something with this whole mess that I can't get passed.

The fact that Carbon Royalty gave these guys $15M USD during Q2, and that Mcmeekin said that these funds were only to be used for the EV charging implementations. Think about that, it makes zero sense. mCloud had C$1.87M cash on the books at the end of Q1. They had burned an avg of $C7.75M in cash from ops over the prev two Qtrs. There was NO chance they were getting through Q2 w/o using that money to cover their operating expenses. Even if Mcmeekin convinced them that they would be able to close the preferred financing shortly after Qtr end, why would they take that gamble with their money knowing it would initially be sunk into mCloud's operating losses? It makes me wonder if there was something nefarious going on here from the start. mCloud borrowing $500K per dealership NEVER made any sense to me to begin with. I'll save my conspiracy theories for the time-being but you probably see where one could go with that.