Aug. 26 at 5:49 PM
$VIDA Someone mentioned this one. Finally had a chance to look into it.
The 10 million shares caught my attention along with new IPO. Award winning software. Worth a look.
Long story short.. Hell no!
10 million shares but total is 20 million with warrants etc. So 50% dilution over hang from the start.
3 founders take home combined 800k ? 🤦♂️
1.56 million cash burn last quarter with most of it going to salaries!
Revenue
$323.910. , 5-6 million a year cash burn.
Huge red flags: The founders giving themselves high end executive salaries with a product/company that is hemoraging money.
Warrants issued to insiders and early investors have anti dilution clauses, unlike retail investors buying.
This IPO looks to be their new business model. Not the product.
I have no doubt it will run and drop etc. Trading it once in a while could be decent. But it’s got pump/dump and dilution written all over it!
