Q: Hi Peter?Ryan, do you think this could be a takeover target, or would it just file for bankruptcy. Is it worth it to them to stay alive. Thanks, Nick
5i Research Answer:
We are trying to forget this one. At $21M market cap, down 50% in 2024 alone, it will be very hard for EGLX to attract investor interest. With debt and negative cash flow it will likely need to dilute shareholders further to keep the lights on. But there is value in a public listing, and 'maybe' a private company might approach it for a reverse takeover. Not something we would count on, however. Overall, things still do not look very good here.