What a strange release.
On the one hand, I was completely wrong about the ATM being tapped recently, but this omission means the assumed sales had nothing to do with the share price erosion, it was actually people dumping. Also, it was logical to think we were tapping, I mean that's what it was for and why "refresh" if you didn't intend on using it? Bizarre.
Do we no longer need the money? Doesn't jive with what we know.
Are we going to find another source of financing, because we couldn't muster up any interest? Not encouraging.
Do we no longer need additional funds because we're ramping up production beyond what we anticipated? Supports the earlier PR this week, but that may be a reach.
Why allow option to re-open the ATM if we don't need money? Undercuts the above hope.
The fact is, as others have stated, this late Friday news dump presents us with more questions now than answers, generally the market doesn't like this type of ambiguity, absent another positive news release soon, it's a concern.
For us investors, I want answers, this isn't good enough and that's a fair ask.
