Blue Sphere Corp (BLSP)

[TMATT]

This is "unfortunate" good news. It is unfortunate because they had to withdrawal at all. But good news because they really should have withdrawn a long time ago.
Bottom line is this. Their current assets do not cover corporate overhead. No mystery here and it would be a couple more years before these assets even get close.
With that being said. They do need to continue to raise money and complete or buy new projects. Again no mystery.
The issue is this. If they would have completed the up list and financing when they first filed, we would be having a very different conversation. But they did not. So now that up list and financing is off the table. Stock price wont allow for the up list and even if it would, it would be really dilutive.

I agree with War Machine. I hope they can put a small financing together that will get them to a couple more milestones. Maybe this could rebound the stock and then they can do a proper financeing at the higher value.
Of course, when people try to sell 50 shares at 1.30 they don't exactly help things. With the spread being so big right now and volume being dead, it is hard to get the stock moving when people are selling to raise lunch money.
Some of these trades are so small that they fee might cast more than the trade.
Hard to know what their next move might be, but from what a buddy of mine told me, they are not dead yet. The CEO has been in meetings in New York for the last two weeks. They are up to something. At this price it is going to be painful.
K Should be out in March i would assume. Won't tell us much since i am sure they are not cash flow positive yet based on everything we already know.
Something happend with the up list deal and that is what really dragged this down.
Maybe I will call and see what they have to say. let you all know if I learn anything.