"after great news "? When? What "great news" was there?
What "abnormalities" in trading are being observed? Pull up a 2, or 2.5 yr chart, or a 5 yr chart- don't know of anything "abnormal" about a general down trend in this stock, and a few, brief, what might typically be called "pump up" cycles and then sharp downturns that follow. (typically around April, just prior to April, interestingly: look at April of 2013, it peaked around .06 or so, and then was at about 2 cents a share by June or so, and 1 cent by Aug)
It peaked at .08 about one month ago, within two trading days of reaching .08, plunged rapidly back as low as about .035, then back to about .06 or so, then back now to the .04X range? It's down pretty close to 50% now in one month from the .08 peak- which, IMO was based essentially on nothing that I would find noteworthy, "new", huge "news", and most importantly, nothing I could find as having any significant changing effect on the rather "dire" (my opinion) cash position, etc? What is abnormal right now?
Not seeing it? If the past 2, 2.5 yrs of trading patterns are any indicator, this will more than likely be headed for the 2 cent range IMO. Don't see any reason why it wouldn't? What has changed in their cash/cash flow situation, which is probably the single greatest issue they face IMHO (there own 10-K warning statements, IMO essentially echo that same sentiment)- I'll list their own words verbatim from the 10-K as proof:
Most recent 10-K, PAGE 25:
"Risks Related to Our Financial Position and Need for Additional Financing
We will need to secure additional financing in 2014 in order to continue to finance our operations. If we are unable to secure additional financing on acceptable terms, or at all, we may be forced to curtail or cease our operations.
As of March 24, 2014, we had cash and cash equivalents of approximately $211,632.80 and a working capital deficit of approximately $13.4 million. As such, our existing cash resources are insufficient to finance even our immediate operations. Accordingly, we will need to secure additional sources of capital to develop our business and product candidates as planned. We are seeking substantial additional financing through public and/or private financing, which may include equity and/or debt financings, research grants and through other arrangements, including collaborative arrangements. As part of such efforts, we may seek loans from certain of our executive officers, directors and/or current shareholders. We may also seek to satisfy some of our obligations to the guarantors of our loan with Seaside National Bank & Trust, or the Guarantors, through the issuance of various forms of securities or debt on negotiated terms. However, financing and/or alternative arrangements with the Guarantors may not be available when we need it, or may not be available on acceptable terms.
If we are unable to secure additional financing in the near term, we may be forced to:
· curtail or abandon our existing business plan;
· reduce our headcount;
· default on our debt obligations;
· file for bankruptcy;
· seek to sell some or all of our assets; and/or
· cease our operations.
If we are forced to take any of these steps, any investment in our common stock may be worthless."
That $211K cash they list- if you do the math given their spending/burn rate elsewhere in the 10-K, is probably about one month's worth of cash left. Meaning, if they haven't already raised more cash by today, April 9th, via Asher, or selling/diluting more shares, or whoever/whatever- then they'd probably be down to about zero cash on hand IMO.
Just pull up a Jan 2011 to today, chart- there is nothing "unusual" occurring here IMHO?
AI
