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Xeros Technology – “pleased to announce” retail offer closing result, fooling itself or trying to fool everyone else?

By Steve Moore | Friday 19 April 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Xeros Technology (XSG) has issued a “Result of Retail Offer” announcement which commences, “The board of Xeros Technology Group is pleased to announce that the Retail Offer launched on 4 April 2024 has now closed”. Good news then with it having been stated fundraising net proceeds will be used including for execution of contracts, pursuit of global opportunities and advancing commercialisation… and to “strengthen the company's balance sheet”?
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