So far nothing has changed since Max Li became the CEO. They have already entered into a 6th 3(a)10 transaction since he became the CEO. Plus don't forget the fact that Peabody is the Chairman; so he is Max Li's boss.
My biggest issue with SRMX is that if the technology is really that great and the prospects for the future really that bright then the company should have had no trouble finding private investors to help finance the operations. That didn't happen though. Instead Peabody & Co went with the most toxic financing imaginable causing nearly 1 billion shares of dilution over the past 6 months and the dilution is far from over.
If it wasn't for Peabody way over blowing SRMX's relationship with AT&T leading to lots of retail interest in the stock, SRMX would be trading in the triple zeroes right now.
In my opinion, there is no foreseeable end to the toxic debt/dilution situation here. SRMX is still working through the developmental stages of their business idea. SRMX may have a lot of new expenses to work through before they have a marketable self sustaining product. It is obvious by the six 3(a)10 transactions so far, that Peabody & Co plan on continuing to pay for business expenses using the very toxic 3(a)10 financing.
There is no guarantee that SRMX will ever have a marketable product capable of creating a cash positive balance sheet. Unless that happens, retail shareholders will continue to fight an uphill battle against an endless flow of dilution.
The fact that SRMX has been unable to get FINRA to approve a name/symbol change after all these months tells me that the debt/dilution situation isn't the only serious thing wrong with SRMX.
Until SRMX can get its crap together and turn into a respectable business and not just an endless flow of dilution, people are probably best treating SRMX like most other penny stocks = as a day trade and not an investment. I mean if nobody else is willing to invest in the SRMX idea besides toxic lenders then why should retail be any different?
