Spot on. Dilution is inevitable unless they somehow pull a rabbit out of the hat - maybe news of a patent grant or something but the chances are slim.
Anyone who is ok with dilution at this stage of the game for Inmed is out of their mind. I know start ups dilute - its expected. However with Inmed, they were supposed to have biosynthesis commercialization and scale up costs finalized by now (which is why the last financing included the June 2020 warrants at $1.25 US.) The timing was supposed to be perfect for everything to fall in line, but as we all know now, they aren't close to having answers.
This is a big failure for Adams and team but the koolaid drinkers seem to think all is well on the home front.
Let's see how they all feel when the next round of financing consists of about 75mil shares at $0.17/ea. (US). That's if they are lucky. There won't be many companies standing in line for that deal based on Inmed's (and Adam's) history.
The pressure will start to mount on Adams so he better hope that rabbit is in the hat somewhere.....
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