Ciboney has released their results for Dec to Feb 2021
Between Dec to Feb, when we were busy pushing up they stock, they were busy paying money out, with no money coming in🤷♂️
They've spent J$1.9m over the last 3 months and made a loss of the same amount as they have no income
Between Dec to Feb, when we were busy pushing up they stock, they were busy paying money out, with no money coming in🤷♂️
They've spent J$1.9m over the last 3 months and made a loss of the same amount as they have no income
They now have $4.2m in cash 💰 vs $11.9m this time last year. So just think of it as their bank balance being depleted slowly
Over the last 9 months they have spent $4.3m on expenses without any income
Over the last 9 months they have spent $4.3m on expenses without any income
They are spending on things like
• Registrar fees (to remain as a listed company) - over $1m per year
• Salaries - over $1m per year (cheap don't?)
• Utilities, paying board members, GCT, bank charges, Accountants & Auditors, Consultants, Printing and other office charges
• Registrar fees (to remain as a listed company) - over $1m per year
• Salaries - over $1m per year (cheap don't?)
• Utilities, paying board members, GCT, bank charges, Accountants & Auditors, Consultants, Printing and other office charges
With a Cash balance of only $4.2m and spending anywhere between $1 to $2 million per quarter...
...I'd say their days are numbered
...I'd say their days are numbered
• • •
Missing some Tweet in this thread? You can try to
force a refresh
