Asking as someone less involved in reading about the funding side of starts than probably many of you, can someone explain this quote?
>The most viable option that we have identified to forestall a near-term sale or a potential default under our credit agreement is further investment by one or more of you.
Surely, the company can't in earnest expect any more VC or angel funding after their most recent round of layoffs, right?
Is it common for startups to ask for funding when it's very clear that the company is in such bad shape, with very little chance of recovery?
>The most viable option that we have identified to forestall a near-term sale or a potential default under our credit agreement is further investment by one or more of you.
Surely, the company can't in earnest expect any more VC or angel funding after their most recent round of layoffs, right?
Is it common for startups to ask for funding when it's very clear that the company is in such bad shape, with very little chance of recovery?