Who will be the first to blink?
The market is holding up a company who is late on their 10-K (past the normal SEC extension), but not notified by NASD of future delisting for delinquency (which would be made known by a 8-K). At the same time, the company has enormous potential.
The company is late because of the merger and change in accounting firm (that happened at the merger), and is auditing the financials. The CEO is on the record stating there will be significant changes to prior SBRT financials due to the restating of financials post-merger to reflect what the combined financials looked like going back several years.
MM's have kept a thin spread the past few trading days, which is a welcome change. The price has fallen below the 200 MDA and kept the declining 50 MDA.. which is easily manipulated by them as it is a very thinly traded stock.
My bet is everything will be fine long-term.
But the more this drags on, the more likely some investors may get skittish and want out. If they have a decent position, the MM's will drop the bid and try to get sweeter prices/margin between the bid/ask.
Personally, if the $0.30's repeated, I wouldn't have a problem pulling the trigger again if it aligned with my timeline and the ASK, assuming no changes to O/S.
OTC stocks are a casino... but I like the story and leadership long-term.
