This puts an exclamation mark against a horrible period of value destruction. Management have raised $139m over the last 2.5 yrs and the business will relist at a market cap of $215m, providing the $1.10 share price holds.
The market has basically written off the value of the XOS transaction and part of the elite tracking business. There's zero value attributed to the prosumer opportunity. But hey the execs got a bonus for that ''successful acquisition"
Management here have time and time disappointed. I love the fact that the last capital raise of $14m was done to fund the AMS acquisition and the new tactical product, but only a ~$2m was used on acquisitions and the rest went to working capital. I've noticed in the new raise they're raising again to build the tactical product. I thought that's what the May 2017 raise was for...?
For existing shareholders this is a horrible outcome. For new shareholders, a sweet deal thats 2c from the 52 week low.
Add to My Watchlist
What is My Watchlist?
