My takeaways:
- During the initial phase of the ATM, net proceeds were approximately C$1,285,195 after commissions.
- No common shares were sold under the United States-only ATM Program from September 1, 2023, through September 30, 2023.
- Suspended sales under the United States-only ATM Program and they are not required to provide notice if it resumes making sales in the future.
Reasons?
- Not in need for money anymore -> secured other funding we don't now of yet?
- Pause until market conditions improve
- Paused because there is a broader strategic plan such as choosing to time their equity offerings to coincide with catalysts (products, revenue, partnerships,...) driving higher trading volumes.
Result:
More questions, only 1.28M raised since july, ATM suspended, cash balance not good, zero clarification making it hard for investors to put money in this company.
