isn't that the 3rd time that they have changed the terms of their relationship with AdSlot???
- started with tech sharing - moved to an investment of 20% (needed cash due to poor revenue cash flow, completed a capital raising under the guise of 20% acq, but clearly just looking for cash to survive) - Moved to a JV with AdSlot, issuing shares (once approved) instead of cash, but seeding the company with $1mil capital, although Burden says they will invest it over time in the BRR, which leads me to think the change was made to protect cash on poor sales again!!!
Burden and Co moving as they see the business developing, but I would hope this isn't the standard issue acquistion strategy where 3 deals are agreed before a vote and not much progress. Don't forget, even though they have been good at disclosing the related entities in these tranasctions, doesn't mean they can't tailor them for the businesses as time and issues develop.
Not a lot of buy depth, an unhealthy chart......I would hate to see a correction on the Dow.
I got out last week. Will look to re-enter on positive signs, a more reasonable price. Market cap has gotten ahead of itself, might buy some at 6 cents where the directors got their fill.
WFM Price at posting:
6.8¢ Sentiment: ST Sell Disclosure: Not Held