blur (BLUR) has been bailed out by a hugely discounted fund raise today at just 75p. Existing investors face 37% dilution but even assuming the maximum $20 million is raised this dog with fleas is not out of the woods yet as the note just out from the broker that organised this placing (N+1 Singer) makes painfully clear.
Singer insists that the company will have enough cash to see it through to profitability (which it sees happening in calendar 2016). Hmmmmmm. I flag up a couple of issues.
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