It is BS. The S-1 doesn't raise a penny for COWI. ALL the shares are being sold by existing shareholders, and all the proceeds go to those shareholders.
All the S-1 does is flood the market by increasing the float by 2+ billion more shares.
COWI is an insolvent pump and dump that has about run its course. For the FOURTH time. They can't raise any significant amounts of money to even pay for to release their fake news to keep the pump going. Expect Lloyd to go dark again soon until he can think up another bogus story to rope in all new investors and help the toxic death spiral convertible holders dump on them.
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