With all that said, all those things were known BEFORE the stock tanked to below .30...The reason the PPS tanked was the failure of the JV deal with Realcan/Timwell. (They failed to get the 2nd and 3rd tranches of the deal...the 2nd tranche was $20 million, that is considerably more than the money raised in the offering, plus the Timwell deal would have meant a footprint in the China market)The .30 offering was a desperate financing deal with a previous finance partner that they were still indebted to. There in still down side risk, they are on the verge of being dilisted, a very big downside catalyst that has about the same odds of happening as the upside catalysts.
The upside catalysts are based on a series of "ifs"...the downside catalyst is based on one "if" and one big fact. That being the fact that if they don't see upside catalyst come true they WILL be delisted. Of course they can R/S to avoid delisting but that is another huge downside catalyst.
The only thing the PPS has going for it is that it is highly oversold and may see a pop "IF" enough day traders pile in, in that case, there will be another group of bagholder born.
My advice to anyone reading this, is that if you are not an experienced and nibble swing/day trader, either put only a small amount (which you can afford to lose) into this stock or stay away until some type of real news on progress is released. Yes, you may miss the pop but you also may be saving yourself a huge loss as long as no news is released.
There was huge volume last week and the PPS failed to move.
Be careful and good luck! (from a current bagholder...I could use a pop here to unload some...I am in at .80, .50 and at .25)
