The market does not believe thedeal and neither do I, the share price is almost back where it was prior to theannouncement.
Why can’t they get the placement funds upfront when they need themoney so desperately to the point that the chairman had to advance $450K ?
Is the money even real? Usuallywhen a placement is announced funds are received within a few days.
They signed the MayweatherBinding Term Sheet OVER ONE YEAR AGO and still haven’t made a dollar from thisdeal. What is the status of this? They don’t even discuss this deal anymore.What makes you think they willever monetize when they haven’t been able to deliver on any of their revenue projections?
Further to this, they have beenrelying on government grants for the past few years. This is no longer anoption given the recent changes.Also it looks like ProsserEnterprises is no longer willing to fund the company, as instead if drawingfrom the existing facility, the company sought funds from the chairman.
All IMO.
MYQ Price at posting:
34.5¢ Sentiment: Sell Disclosure: Not Held