and in Q1 2014 interest expense was $445K (plus $55K in derivative costs).
This has all come from the convertible notes they sell to keep operating. They have to sell more and more notes to get the cash to service interest on the existing notes.
People were buying the notes because they believe they can sell the stock later. When they stop believing that, the existing note holders won't get their interest and all the notes go into default.
A $50K note now converts to 76 million new shares issued. At the end of Q1 there were $650K in notes. That's going to be a lot of new shares.
And we all know the rate of dilution is dramatic and has been accelerating. #msg-105457110 The last two weeks show how hard it is to keep the price up under that pressure.
So here's the thing: as the fans of CYPW conclude this dog don't hunt, they're going to move on one by one. They'll cash out, putting more downward pressure on the price and won't be here cheering anymore.
The delayed 10Q won't help, either.
People can see for themselves what the smart money is doing here.
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