Speculators might make some money by identifying low-cost companies with a stock that ICO promoters might target.
It is easy to see why Kodak is interested in ICOs and cryptocurrency mining. The company desperately needs all the money it can get.
The Eastman Kodak Company reported revenues of $379 million, a gross profit of $87 million, an operating loss of -$54 million, and a loss of -$46 million on September 30, 2017, Stockrow data indicates. The company also reported an operating cash flow of $3 million and a negative free cash flow of -$14 million on the same day.
The risks Kodak is taking here are vast because the plan is unproven. Cryptocurrency mining is a proven source of cash but the other ideas are new. Nobody knows if they are worth the risk.Read more