Given the rapid cash burn, that might have to happen fairly soon. The cost could be high. With the stock down over 80% from its peak, selling shares will be highly dilutive to existing shareholders.

To calculate “Months Before Bankruptcy” I divided the TTM FCF burn by 12, which equals monthly cash burn. I then divide Cash and Equivalents on the balance sheet through 1Q22 by monthly cash burn.

To calculate “Months Before Bankruptcy” I divided the TTM FCF burn by 12, which equals monthly cash burn. I then divide Cash and Equivalents on the balance sheet through 1Q22 by monthly cash burn.