Thank god management did what they did. It is a major red flag for me and definitely out of my investible universe now. Probably it is a great stock and has great management but I don't have the balls to trust them. One less stock to research - should have waited for 4C before spending a few hours researching this.

I would love to hear from holders. What do they think of this sequence of announcements? am I overthinking here?

Market cap at 0.17 is approx 115m

9m Receipts for the year means the EV / Cash receipts is over 10 and bleeding 2m cash for the year.

Cash receipts to bounce back next Q given the July collections but at its current price the value is questionable.

Not over thinking it, the sequence of events is very very ordinary.

There is no substance to that 4C, even without a joke ACV of 20m usd.

@Valueinvestor0909 I can see the red flag you talk about but is this just an attempt by management to get a better price for the capital raise that looks likely if those "delayed cashflows" don't come through soon? The potential for a capital raise at a depressed valuation has been what has been keeping me from buying for a while now.

Probably. However, if Management is trying to get better price this way.. How would you trust in the future they won't do a similar thing to get out and keep shareholders with the bag? too difficult.

Agree @Valueinvestor0909 lets not get ahead of ourselves - Ian is up to old tricks ????

The market sure has taken a shine to it. Fool me once...?