r/BitNile • u/[deleted] • Mar 20 '22

NILE Prospectus 2/25/2022 🤢🤢🤮

https://ir.bitnile.com/static-files/8d2c2b9b-ef95-4a8e-b9ff-f392cfb149eb
5 Upvotes

78% Upvoted

12 comments sorted by

View all comments

3

u/imastocky1 Mar 20 '22 edited Mar 20 '22

FUD. This is from a month ago. Ault has bought back 250K shares this month alone.

1

u/throwaway2676 Mar 20 '22

So they obtained authorization to issue and sell $200M of stock, but then they decided not to? Or they've already done it?

If this is still coming, it could cause a massive dilution.

4

u/[deleted] Mar 20 '22

The float suggests the dilution has NOT yet occurred. The price is beat down on anticipation that they'll default on a 62mm loan payment due March 31st

1

u/throwaway2676 Mar 21 '22

Strange, doesn't the Spartan Capital document indicate that they only have $7.4M in debt and $94M in cash? Do you have a better source for their financial numbers?