First off,
I want to introduce myself on here, I am in the process of preparing for the series-7 exam (broker exam) and I have been a long time penny stock trader... I primarily only watch others comment due to compliance issues with the firm I am studying for, however there are ridiculous amounts of ignorance being posted on here recently.
I am going to give you my perspective on this company, you guys can take it for what it is.
Per Mid 2016, Mark Munro, The CEO of the company released this statement:
“We have undertaken measures to reduce our operating expenditures, restructure our debt, and divest ourselves of non-core assets. Just this week we eliminated over $14.1 Million in debt from our balance sheet, as well as cash interest payments and derivative liabilities associated with that debt. In order to further these debt restructuring efforts, the Board of Directors determined that it would be more prudent to continue our public listing on the OTC-QX rather than on NASDAQ, in order to take advantage of increased flexibility in effectuating the aforementioned restructuring, as well as postpone the shareholder approved reverse-split. We believe that this is the start of our efforts to substantially de-leverage the Company and become cash flow positive as we grow our industry disruptive Software Defined Networking and Network Function Virtualization services and solutions.”
From a directional and credibility basis, has he done what he said he would do with the debt? Yes.
It has also been mentioned that they are planning for a buyout, due to the comments about the two peers going for 100 million a piece. The plan is to reduce debt to look more attractive to larger firms.
In my opinion, the company is doing everything they said they would do...As long as they lay out a timeline and meet milestone expectations, I am bullish.... Forget price, lol unless you're just in it to swing.
This is all personal opinion and does not represent the opinion of my firm.
