That is why I bought in November a year ago. You did not need any FDA approval. Lorraine stated that 2016 would be the year of sales. It seemed like a slam dunk case. The sponsored a nice 17.41 valuation. The company had just undergone a reverse split. In an interview, Lorraine stated she had learned from her past mistakes.
Then came the 22,000,000 liability of past comp out of nowhere. And you know the rest of the story. The entitled deserve their money while pontificating. Why pick up the phone and make sales to all the Fortune 500 companies when you can get paid by issuing toxics and revaluing stock options. Around 15,000 in sales is pathetic. My favorite is that they hired a guy for sales at about 150,000 a year. Wow. The shareholders are just not buying into the future vision of the company (and apparently neither are any investment bankers). According to the last filing, the terms of the agreement with Wellington have been altered.
My guess is that nothing will happen until May. That is only my guess. The next filing around February 15 will disclose something (only a month away). There is no money to support the 1,000,000 payroll.
