Gfinity (LON:GFIN) is an example of how a growth market is not enough to make a business profitable. The esports business is raising a further £2.7m at 1.25p a share. This is a tiny proportion of the cash the company has raised since joining AIM at the end of 2014.
The placing price is a small discount to the 1.3p market price ahead of the announcement. There is currently £800,000 in the bank after a cash outflow of around £700,000 since the end of 2021. There should be enough cash to last until next March. Each share comes with a warrant to subscribe for another share at 1.25p. The warran...
