The share price is down 56.60% so far today to 2.3c with an intraday low of 1.8c. Absolute carnage.
9 Spokes is now looking like a disaster. Their last Quarterly Report disclosed an operating loss of $3,194,000 on revenue of $1,750,000. Cash in the bank at the end of the last quarter was $4,772,000. Expected cash outflows for the current quarter are $4,825,000. It looks like they’re going to need to raise capital fast. In the wake of a cancelled contract with the Royal Bank of Canada, that’s going to be a very hard sell.